22 days ago • Posted by William Ramstein
Hang Seng's tech index suffers large selloff. Can Baidu fight through this ?
The Hang Seng's tech stocks saw as large selloff this entire month similar to what we saw in March of last year when volatility was high and markets were down. The upcoming multi-billion dollar listings of Baidu Inc. and Bilibili Inc. will be closely watched to see if Hong Kong’s IPO market still has steam, given their size and high profile as tech companies. Baidu, which priced at an almost 3% discount to its U.S.-traded shares, will start trading March 23. Investor demand for its offering was strong, with retail investors putting in orders for almost 100 times the stock made available to them, according to a person familiar with the matter. Bilibili, the video streaming platform that is looking to raise as much as $3.2 billion in a second listing, plans to debut on March 29.