Robin Li, CEO of Baidu.
Nelson Ching | Bloomberg | Getty Images
GUANGZHOU, China – Baidu will raise at least $ 3 billion in a Hong Kong secondary list this month, two people familiar with the matter told CNBC, becoming the latest Chinese technology giant to raise money at the financial center.
The listing will be completed before the end of the month, they said.
Baidu, which is listed in the US on the Nasdaq, will issue 4% of its shares, said one of the people.
The process of building the books could start on Friday, with the final price of the shares to be announced at the end of next week, the person who spoke on condition of anonymity, because the details of the transaction are not yet public, he told CNBC.
Baidu declined to comment when contacted by CNBC.