Baidu Chip Unit Kunlunxin Seeks Additional Listing in Shanghai
Baidu's (HKG:9888) artificial-intelligence chip unit Kunlunxin (Beijing) Technology is working with China International Capital Corp. to seek an additional listing in Shanghai, Bloomberg News reported Friday, citing a regulatory filing.Kunlunxin (Beijing) Technology filed for a public listing in Hong Kong earlier this year and is now working with the investment bank to also list on Shanghai's STAR board, the report said.Baidu holds a 58% stake in Kunlunxin (Beijing) Technology, which could be valued at no less than $3 billion, the news agency reported earlier.Jefferies analysts expect Kunlunxin's Hong Kong listing to happen in the third quarter, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)