Baidu, the leading Chinese search engine is contemplating a secondary share listing in Hong Kong. Baidu is currently listed on the Nasdaq (BIDU) and is one of Google’s strongest rivals in China. The idea may have been brought about by the successful listing of Alibaba.com this past Tuesday.
Alibaba, a B2B website that is 40% owned by Yahoo is an export facilitator that connects Chinese exporters with global buyers. Its shares nearly tripled in debut trading in Hong Kong Tuesday raising $1.5 billion. This is second only to Google’s $1.7 billion in August of 2004 for initial public offerings of Internet companies.