Robin Li, CEO of Baidu.
Nelson Ching | Bloomberg | Getty images
GUANGZHOU, China – Baidu will raise at least $ 3 billion in a secondary listing in Hong Kong this month, two people familiar with the issue told CNBC, making it the latest Chinese technology giant to raise money at the financial center.
The listing will close before the end of the month, they said.
Baidu, which is listed on the Nasdaq in the US, will issue 4% of its shares, one said.
The book-building process could begin as early as Friday, with final pricing of the shares to be announced by the end of next week, the person, speaking on condition of anonymity as details of the deal are not yet public, told CNBC.
Baidu declined to comment when he reached out to CNBC.