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Baidu, Inc. has applied to the Hong Kong Stock Exchange to convert its secondary listing status to a dual-primary…
BIDUBaidu, Inc.
Baidu, Inc. has applied to the Hong Kong Stock Exchange to convert its secondary listing status to a dual-primary listing, with the effective date expected within 2026. The company will propose several measures at an upcoming extraordinary general meeting, including an issuance mandate for up to 20% of issued shares, a share repurchase mandate for up to 10% of issued shares, and the adoption of a 2026 Share Incentive Plan. Additionally, the Board intends to adopt new Articles of Association to comply with Hong Kong Listing Rules. The company has also applied for various regulatory waivers regarding joint company secretaries, disclosure of ultimate beneficial owners, and the use of U.S. GAAP for financial reporting. Baidu is an AI company that provides internet-based services.