Baidu raises $3.1bn in Hong Kong 'homecoming' listing

Bilibili starts $3.2bn offer as China tech companies take shelter from US blacklist fears

20210317 baidu

Baidu is preparing to list on Hong Kong's stock exchange © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

HONG KONG -- Chinese online search company Baidu will raise $3.1 billion in Hong Kong, while short video app Bilibili on Wednesday launched a similarly sized offering as mainland companies trading in the U.S. accelerate listings here.

The companies are pressing ahead with so-called "homecoming listings" in Hong Kong as Washington turns the screws on Chinese tech groups with new rules aimed at their investors, suppliers and customers.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.