Baidu considers delisting from Nasdaq to increase its valuation as pressure ramps up from Congress (BIDU)

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Baidu is exploring the possibility of delisting its stock from the Nasdaq exchange and moving to an exchange closer to China to boost its valuation, Reuters reported on Thursday. The Chinese search engine giant believes its shares are undervalued, and would fetch a higher valuation if it was listed on a different exchange. The move comes as tensions rise over Chinese investments listed on US exchanges, with a group of senators introducing legislation that would limit Chinese IPOs on US exchanges. Earlier this year, Luckin Coffee, a Chinese coffee chain, committed fraud by inflating its revenues by more

Read more    Source: businessinsider.com

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