Baidu CEO Says He May Consider Hong Kong Listing

Source: Market Watch

HONG KONG -- Nasdaq-listed Chinese Internet search engine Baidu.com Inc. may consider listing shares in Hong Kong, according to media reports Thursday.

Chief Executive Robert Li was quoted in wire reports as saying a Hong Kong listing would raise the company's profile and help fund expansion into new areas such as online auctions.

Li reportedly made the comments while addressing students at a Hong Kong university.

Baidu, which ranks as China's largest Internet search engine by revenue, is reportedly seeking out potential acquisition targets among Chinese Internet companies with stakes in the consumer-to-consumer market.

Listing shares in Shanghai is unlikely for Baidu, which would have to overcome market regulations that effectively block foreign-owned firms from selling shares on Chinese exchanges.

Li's comments follow the successful initial public offering of Alibaba.com (HK:1688: news, chart, profile) , a mainland export facilitator that connects small Chinese exporters with overseas buyers. Its shares nearly tripled in debut trading in Hong Kong Tuesday.

Alibaba.com is part of the Alibaba Group, which includes the online auctions Web site Taobao and the online payment system Alipay.

Alibaba.com raised $1.5 billion in the world's biggest share sale by an Internet company since GoogleInc.'s (GOOG 693.84, -39.10, -5.3%) 2004 debut.

Shares of Aliaba.com rose 1.7% in Hong Kong trading Thursday.

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Editor: Carrot Chan