Deals
China's Top Tech Firms Heed the Call to Bring Listings Home
- Baidu, Sogou and 58.com CEOs say they’re keen to list A shares
- The government wants its largest players to return home
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China’s biggest overseas-traded technology companies from search giant Baidu Inc. to Sogou Inc. are investigating ways to float shares on the country’s exchanges, as Beijing encourages its largest corporations to bring their listings home.
Chinese enterprises have long pursued the prestige and capital associated with marquee overseas debuts. But technology businesses from Alibaba Group Holding Ltd. to Tencent Holdings Ltd. have in recent years outstripped their old-economy peers to become the nation’s largest, and virtually none are traded domestically. Market regulators are now pushing the industry to package Chinese Depositary Receipts or CDRs -- similar to ADRs -- for local investors, Caixin reported.