HONG KONG/BEIJING: Chinese search engine giant Baidu Inc is considering delisting from the US 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's shares have fallen more than 60 per cent since their peak in May 2018 while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the US exchange, has lost less than 10 per cent over the same period. The US senate passed a bill on Wednesday that could stop some Chinese companies listing on US exchanges unless they follow standards for US audits and regulations.
big loss for nasdaq if they finally leave
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