Monday, August 08, 2005

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Baidu.com Shares Surge 354% in Nasdaq Debut
(China Knowledge)


“Aug. 8, 2005 (China Knowledge) - The shares of China's largest search engine, Baidu.com Inc. more than quadrupled to close at US$122.54, up almost 354% in its U.S. debut last Friday, the biggest daily gain by a newcomer to the market over the last five years.

Baidu.com’s shares opened on Nasdaq offering shares at $US27 a share last Friday and hit a high of US$151.21 during its trading session, surging over 450%. Shares closed at $122.54.

The company went from an estimated net income of US$1.5 million for the three months ending June to a market capitalisation of about $US4 billion at the close of Friday’s trading.”
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