Friday, June 10, 2005

Baidu IPO Planed for July

From Red Herring: Baidu Plans July IPO

"A high-placed individual at leading Chinese search engine Baidu said the company’s IPO on the Nasdaq stock exchange will take place in early July.
Baidu’s IPO has easily been the most anticipated listing of a Chinese company this year, and is expected to be heavily subscribed."

"In 2004, San Jose, California-based Google led a group of investors that bought a roughly 10 percent stake in Baidu for a valuation said to be just over $100 million. Google, which Shanghai-based Internet research firm iResearch ranks as the No. 2 search engine in China by frequency of use, has 30.1 percent market share behind Baidu’s 44.7 percent."

"There has been speculation in the Chinese Internet industry that Google will make a bid to acquire Baidu shortly after its listing. The global search giant is rumored to be looking for an entrée into China, but has yet to hire any staff on the mainland. A Google spokesperson declined to comment on any such moves."


At 9:37 PM, Anonymous Anonymous said...

How can an everyday person with little too invest take advantage of this new IPO or is it only good conversation around the cooler or reserved for the elite.


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