Baidu Is Said to Explore Upgrading HK Listing to Primary Status

Baidu Inc. is considering upgrading its Hong Kong listing to primary status to gain more exposure to investors in mainland China and protect itself from potentially unfavorable US policies, according to people familiar with the matter.

The technology company — with a market value of $52 billion — trades on the Nasdaq and has a second listing in Hong Kong. That makes it more accessible to investors in Asia, but not in mainland China because it still isn’t eligible for the so-called stock connect. A primary listing would help Baidu qualify for cross-border trading, opening up investment flows from the mainland to Hong Kong.