Baidu Group-SW (09888) seeks voluntary conversion to dual primary listing on the main board of the Hong Kong Stock Exchange

Zhitong Finance App News, Baidu Group-SW (09888) announced that the board of directors approved a motion to seek voluntary conversion to a dual primary listing on the main board of the Hong Kong Stock Exchange in accordance with Hong Kong Stock Exchange guidelines letter HKEX-GL112-22. It is anticipated that the main changes will take effect within this year. The board of directors also authorized the company's management to carry out relevant preparations and take necessary steps to complete major conversion matters. After the main conversion, the company will become a dual major listed company on the main board of the Hong Kong Stock Exchange and the NASDAQ Global Select Market. Its Class A common shares and American Depositary Shares will continue to be traded within the two stock exchanges (depending on the circumstances), and can still be converted to each other.

According to the announcement, the main conversion matters are limited (including) by market conditions and obtaining necessary regulatory approvals, and are subject to the above conditions being met before they are confirmed.