 "Baidu, Chinese internet giant")
Baidu Inc has raised $3.1 billion in its Hong Kong secondary listing, according to a filing by the Chinese internet search giant.
New York-listed Baidu said it will sell 95 million shares at HK$252 ($32.45) apiece as part of the transaction.
The deal showed that the desire of Hong Kong's retail investors to buy into new stock market transactions shows no signs of slowing.
The retail tranche of the deal, which was worth 5% of the total share sale, was about 100 times oversubscribed, sources told Reuters, who added the institutional tranche was covered multiple times.
At that rate, 12% of
