Robin Li, CEO of Baidu.
Nelson Ching | Bloomberg | Getty Images
GUANGZHOU, China – Baidu will raise at least $ 3 billion in a secondary listing in Hong Kong this month, two people familiar with the matter told CNBC. It is the latest Chinese technology giant to raise money in the financial center.
According to them, the listing will be completed before the end of the month.
One of the people said Baidu, which is listed on the Nasdaq in the US, would issue 4% of its shares.
The book-building process could begin as early as Friday with the final pricing of the shares to be announced by the end of next week, the person, who spoke on condition of anonymity, told CNBC.
Baidu declined to comment when CNBC contacted him.