Thursday, July 21, 2005

China's Baidu to Offer 3.7 mln American Depositary Shares in IPO

From Reuters: sets IPO for 3.7 mln ADS

"China's largest search engine, Inc., may offer up to 3.7 million American depositary shares (ADS) for between $19 and $21 per ADS in an initial public offering, according to a regulatory filing on Wednesday.

The company is planning to sell 2.6 million of the ADS, each equal to one ordinary share, while existing shareholders plan to sell 1.1 million ADS, according to the filing with the U.S. Securities and Exchange Commission.

The Beijing-based company has applied for a Nasdaq listing under the symbol "BIDU" "

China Net Investor: The underwriters are Goldman Sachs (Asia) LLC, Credit Suisse First Boston and Piper Jaffray


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