Chinese search engine giant Baidu mulls leaving Nasdaq for market closer home to boost valuation, amid US-China tension

Baidu is said to be seeking higher stock valuation closer home as stock slides with rising US-China tension

Search engine’s market value is about 5 per cent of Alibaba Group’s capitalisation

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Employees wearing face masks are seen next to a Baidu AI robot at the company's headquarters in Beijing. Photo: Reuters

Published: 9:04pm, 21 May 2020Updated: 9:20pm, 21 May 2020

Chinese search engine giant Baidu Inc is considering delisting from the Nasdaq and moving to an exchange closer to home to boost its valuation amid rising tension between the United States and China over investments, three sources said.

Baidu, one of China’s earliest U.S. listings, is reaching out to some trusted advisers to see how it could best be done if it were to proceed, including looking at issues around funding and any regulatory reaction, they added.

The discussions are at an early stage and are subject to change, according to the sources who spoke on condition of anonymity because the matter is not public.

Baidu declined to comment.

The company pointed to comments by co-founder and Chief Executive Robin Li, who told China Daily on Thursday that Baidu was paying close attention to the tighter US scrutiny of Chinese companies listed in the country.

Robin Li Yanhong, co-founder and chairman of Baidu. Photo: Handout

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