Chinese search engine Baidu.com Inc., which counts Google Inc. as an investor, plans to list its shares on the Nasdaq stock market this Thursday in its initial public offering (IPO), according to eNet.com.cn, a Chinese-language news Web site.
Baidu, which operates one of China’s most heavily used search engines, at http://www.baidu.com.cn, declined to comment on the report.
The company plans to sell as many as 3.7 million shares of stock at between US$19 and $21 per share, according to a stock sale prospectus that Baidu filed with the U.S. Securities and Exchange Commission in late July. Its ticker symbol thereafter will be BIDU.
Google, which holds a 2.6 percent stake in Baidu, would not be able to sell its stake in the Chinese search engine for a while after the IPO due to certain “lock up” restrictions, according to the prospectus.
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