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BIDU-SW Soars 5%+ as Kunlunxin Files Listing Application to HKEX
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BIDU-SW (09888.HK) announced that its subsidiary Kunlunxin has confidentially submitted a listing application to the Hong Kong Stock Exchange. Spurred by the news, Baidu's stock price opened 0.46% higher today (2nd). With expanded gain, it peaked at HKD138.8. It was last at HKD138.3, up 5.17%, with a trading volume of 4.151 million shares, involving HKD560 million. BIDU-SW announced that Kunlunxin, through its joint sponsors, on a confidential basis, submitted yesterday (1st) a listing application form (Form A1) to the Hong Kong Stock Exchange to apply for the listing of, and permission to deal in, the Kunlunxin Shares on the Main Board of the Hong Kong Stock Exchange. It is currently proposed that the Proposed Spin-off will be effected by way of the Global Offering of Kunlunxin Shares; and a placing of Kunlunxin Shares to institutional and professional investors. Following completion of the Proposed Spin-off, it is expected that Kunlunxin will remain as a subsidiary of the Company. AASTOCKS Financial News Website: www.aastocks.com |
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