Baidu shares gain 0.8 per cent in underwhelming Hong Kong debut as IPO craze vanishes

Source: South China Morning PostBaidu Inc, China’s dominant internet search engine company, started trading in Hong Kong with less than 1 per cent premium after completing its HK$23.7 billion (US$3.05 billion) stock offering, underperforming recent big technology listings in the city.Its shares opened for trading at HK$254, according to stock exchange data, and rose to as high as HK$256.60. They recently traded at HK$255 as of 9.35am local time, giving the company a market value of HK$707.4 billion.They were earlier indicated…Read More

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