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Real-time News
On July 16th, Baidu Group issued an announcement stating that its board of directors has authorized management to proceed with the voluntary conversion of its listing on the Main Board of the Hong Kong Stock Exchange into a primary listing, expected to take effect this year. Upon completion of the relevant procedures, Baidu will achieve a dual primary listing in Hong Kong and Nasdaq. The announcement stated that once the dual primary listing takes effect, it will enhance the liquidity of the companys securities, expand its investor base, and provide greater flexibility for accessing both capital markets. Market analysts believe that if the process proceeds smoothly and the inclusion conditions for the Stock Connect program are met, Baidu is expected to catch the adjustment window for the Stock Connect program in September this year.Baidu (BIDU.O) rose 1.8% in pre-market trading.Market news: Google has been fined €854,250 in Italy for its gambling ads, and the court has rejected its appeal.July 16th - Recent reports suggest that Syngentas planned $5 billion Hong Kong IPO may be delayed, pending a broader recovery in the agricultural sector. Its advisory team believes a 2027 listing is more likely. Previously, rumors circulated that the company planned to submit its listing application in June, hoping to complete the listing within the year. On July 16th, Syngenta responded by saying it "would not comment on market rumors" and reiterated that it "will return to the capital markets when the time is right."Nvidia: The "AI Factory" will provide 140 megawatts of data center capacity.