Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Baidu eyes return to A-share market via CDR issue

    By Fan Feifei | China Daily | Updated: 2018-06-27 10:55
    Share
    Share - WeChat
    The Baidu Inc logo is displayed outside the company's headquarters in Beijing, Nov 12, 2014. [Photo/VCG]

    US-listed Chinese internet search giant Baidu Inc said it is assessing the possibility of issuing Chinese Depositary Receipts to list in the domestic A-share market, according to documents submitted to the United States Securities and Exchange Commission.

    Baidu said that if its CDR offering is approved by the relevant regulatory authority and successfully completed, the total number of shares issued by the company will increase. Any CDRs offered will represent newly issued Class A ordinary shares of Baidu, it said.

    However, the timing and certainty of filing an application for the potential CDR offering, as well as the completion of the CDR offering, have not yet been determined and are subject to change based on market and other conditions, according to Baidu.

    CDRs, similar to American Depositary Receipts, are certificates that allow investors to hold shares listed across national borders.

    Various media previously reported that Baidu had selected Huatai Securities Co Ltd and CITIC Securities Co Ltd as sponsors for its issuance of CDRs. It was reported Baidu would be the first US-listed Chinese company to return to the A-share market via the new CDR system.

    Robin Li, chairman and CEO of Baidu, said during the nation's annual two sessions that he was hopeful his company would be able to list on domestic stock exchanges, as its major users and markets are in China. He said it would be ideal if the major shareholders were also in China.

    The firm reported its total revenue increased 31 percent year-on-year to 20.9 billion yuan ($3.2 billion) during the first three months of this year. Its net profit grew by 277 percent from a year earlier to reach 6.7 billion yuan by the end of March.

    A string of CDR-related programs and draft rules has been announced in the past few months.

    Chinese smartphone maker Xiaomi said last week it will postpone its plans to issue CDRs on mainland bourses, not long after disclosing its application.

    "A notable future dynamic will stem from the introduction of the CDR system, which will lead to high-quality innovative companies that had listed abroad looking to return to the A-share market," said Amanda Zhang from PricewaterhouseCooper China, emphasizing China will maintain its leading position as one of the world's hottest IPO markets.

    The CDR launch appeals to high-value startups, or unicorns, which have already built up overseas businesses, but have not yet listed overseas, Zhang said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲国产精彩中文乱码AV| 丰满人妻AV无码一区二区三区| 国产午夜无码片免费| 人妻无码中文字幕免费视频蜜桃| 91无码人妻精品一区二区三区L| 久久无码AV中文出轨人妻| 国产日产欧洲无码视频无遮挡| 亚洲精品午夜无码专区| 最近最新高清免费中文字幕| 亚洲天堂2017无码中文| 国产精品无码成人午夜电影| 一本色道无码不卡在线观看| 日韩精品一区二区三区中文字幕| 中文字幕乱码久久午夜| 国产精品无码素人福利不卡| 人禽无码视频在线观看| 亚洲AV日韩AV高潮无码专区| 少妇无码太爽了不卡在线观看 | 亚洲一区无码中文字幕| 久久精品中文字幕有码| 人妻少妇久久中文字幕一区二区 | 亚洲精品无码久久久久| 区三区激情福利综合中文字幕在线一区 | 无码人妻久久一区二区三区蜜桃| 亚洲中文字幕无码久久综合网| 老子影院午夜精品无码| AAA级久久久精品无码区| 久久久久久国产精品无码超碰 | 一本加勒比hezyo无码专区| 中文字幕国产视频| 无码精品A∨在线观看十八禁 | 中文字幕人成乱码在线观看| 最近免费中文字幕mv在线电影| 好看的中文字幕二区高清在线观看 | 日韩A无码AV一区二区三区| 国产高清无码视频| 免费a级毛片无码免费视频| 无码精品前田一区二区| 亚洲av无码专区在线观看素人| 日韩亚洲变态另类中文| 亚洲欧美中文日韩在线v日本 |