Chinese tech stock Baidu (BIDU) may delist from Nasdaq and transfer to an exchange closer to China, such as Hong Kong, Reuters reports. According to three Reuters sources, Baidu would use the move to boost its valuation as tension continues to escalate between the US and China over investments.“For a good company, there are many choices of destinations for listing, not limited to the U.S.,” CEO Robin Li recently told the China Daily newspaper.On May 20, the Senate passed legislation forcing US-listed companies to confirm that “they are not owned or controlled by a foreign government.”Shares in Baidu are currently …read more
Source:: Yahoo Finance
