IPO Price Of Baidu HK $252

On March 23, baidu was listed on the Hong Kong stock exchange for a second time at a price of HK $252. 79% higher on the first day of trading, and the increase expanded to 1.8% at the beginning of the session. The stock price exceeded HK $256 and the total market value exceeded HK $720 billion.

On the scene of the listing ceremony, the world's first "chip code Gong" attracted attention. According to Baidu, the gongs are pressed and shaped by Baidu's historical server motherboard chips. After the Gong rings, the transparent screen behind the gongs will show a sea of digital stars composed of codes representing peak technology, such as search hyperlink analysis technology, World Summit AI technology capability, Apollo, flying paddle and quantum computing, representing the love and belief in technology.

On March 22, baidu announced on the Hong Kong stock exchange that the IPO price of Hong Kong stock was HK $252.00 per share, and the Hong Kong public offering portion was 112 times oversubscribed. Due to the oversubscription, baidu increased the number of shares allocated to retail investors in Hong Kong from 4.75 million to 11.4 million under the call back mechanism. The number of shares allocated to institutional investors decreased from an initial 90.25 million shares to 83.6 million shares.

Baidu said the purpose of the funds raised includes attracting and retaining talents, enhancing the commercialization of Intelligent Cloud solutions, promoting the commercialization of intelligent driving and other growth plans, investing in AI chips and collaborative investment, and further developing mobile ecology.