Baidu’s conversion from a secondary listing in Hong Kong to a dual-primary listing on the Hong Kong Stock Exchange and Nasdaq took effect on Sept. 1. The company’s Hong Kong-listed ordinary shares and Nasdaq-listed ADSs will remain convertible.
The change brings Baidu under the full set of Hong Kong listing rules for dual-primary issuers and removes the “S” marker from its Hong Kong stock short names. The conversion does not involve a new share issue or fundraising. [Baidu]