Baidu gets HKEX nod for dual-primary listing application

Baidu (9888) has received an official acknowledgement from the Hong Kong Stock Exchange regarding its application to convert its secondary listing status to dual-primary on the Main Board, with the conversion expected to take effect within this year, according to a filing on Wednesday. 

The conversion remains subject to regulatory approvals. Upon completion, the company will be dual-primary listed on the Hong Kong Stock Exchange in Hong Kong and the Nasdaq Global Select Market in the United States. 

In connection with the proposed conversion, Baidu will seek shareholder approval at an upcoming Extraordinary General Meeting to grant directors a share repurchase mandate of up to 10 percent of its total issued shares, as well as a share issuance mandate capped at 20 percent.

The company also proposed adopting a 2026 Share Incentive Plan and amending its Articles of Association to align with Chapter 17 and Appendix A1 of the Hong Kong Listing Rules.

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