Code JDMBA2b: Upcoming Baidu IPO

Wednesday, July 13, 2005

Upcoming Baidu IPO

Goldman Sachs, Credit Suisse First Boston and Piper Jaffray are the underwriters. Baidu plans to raise up to US$80 million with the IPO. Based on recent revenue, profits and risk factors I do not think BIDU deserves a market cap greater than any of the three major Chinese portals (SINA, SOHU, NTES) right now. I will wait until after the IPO to evaluate if I am interested in buying BIDU at current market prices.

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