Baidu is expected to be listed in the A-share market with a Chinese Depository Receipt (CDR) issue as soon as June, domestic news site sina.com reported on Tuesday, citing internal company sources.
Baidu would become the first company to issue CDRs. Its shares now trade in New York.?
By using CDRs, major domestic high-tech companies can float shares in Shanghai or Shenzhen while maintaining their existing overseas listings.
On March 3, Baidu CEO Robin Li Yanhong said that he had always hoped Baidu would get listed in China, where its major users and markets are, and it would be an ideal situation if its major shareholders were also in China.
