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Stock impact report

Baidu (BIDU) Skyrockets 20% as Chip Unit Eyes IPO in HK [Yahoo! Finance]

Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU) 
Last baidu, inc. - american depositary shares, each representing 8 ordinary share earnings: 2/27 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.baidu.com
Company Research Source: Yahoo! Finance
Baidu saw its share prices jump by 20.4 percent week-on-week to hit a new 52-week high, as investors took heart from its semiconductor subsidiary's plan to list publicly on the Hong Kong Stock Exchange. In a regulatory filing, Baidu, Inc. (NASDAQ:BIDU) said that it was looking to spin off Kunlunxin (Beijing) Technology Co., Ltd. in line with its plan to separately list the latter's series H shares on the HKEx. Stock market data. Photo by RDNE Stock Project on Pexels An official filing has already been submitted, but the proposed spinoff has yet to be finalized, pending approval of the HKEx, filing completion with the China Securities Regulatory Commission, and the final decisions between the two firms. It noted, however, that Kunlunxin would remain a subsidiary of Baidu, Inc. (NASDAQ:BIDU) following the listing. “The proposed spin-off aims to independently showcase Kunlunxin's value, attract investors focused on the AI chip sector, and leverage its standalone listing to enh Show less Read more
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