Robin Li, CEO of Baidu.
Nelson Ching | Bloomberg | Getty Images
GUANGZHOU, China – Baidu will raise at least $ 3 billion on a Hong Kong secondary list this month, two people familiar with the matter told CNBC, making it the latest Chinese technology giant to raise money at the financial center.
The list will be completed before the end of the month, they said.
Baidu, which trades the U.S. on the Nasdaq, will issue 4% of its shares, one person said.
The book-building process could begin on Friday as the final price of the shares will be announced late next week, the person who spoke on condition of anonymity told CNBC because the details of the deal still they are not public.
Baidu declined to comment when contacted by CNBC.