Skadden, Davis Polk on Baidu's $3.1B Homecoming Secondary Listing in Hong Kong
King & Wood Mallesons and Haiwen were Chinese counsel to the largest secondary listing since June.
March 23, 2021 at 09:30 AM
3 minute read
Skadden, Arps, Slate, Meagher & Flom and Davis Polk & Wardwell have the lead roles advising Nasdaq-listed and China's Google equivalent Baidu Inc. on its $3.1 billion secondary listing on the Hong Kong Stock Exchange. Trading commenced on Mar. 23.
The deal is the biggest secondary listing by a U.S.-traded Chinese company in Hong Kong since ecommerce company JD.com Inc. went public last June. Started as a search engine company, Baidu has in recent years invested heavily in artificial intelligence; it also established an autonomous driving unit in 2017, which supplies technology to automobile manufacturers both local and international.
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