According to two sources with direct knowledge of the matter at hand, China’s Baidu Inc is set to raise $3.08 billion by pricing its shares at $HK252 each in its Hong Kong secondary listing.
The New York listed Baidu is selling 95 million shares as part of the transaction.
Sources preferred the cover of anonymity since the information has yet to be made public. Baidu did not immediately respond to requests for comments.
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