Baidu.com denies plans to go public

Baidu.com denies plans to go public

China based internet giants Baidu.com has said that they currently have no plans to go public as claimed by many media outlets.

Cynthia He, investor relations manager at Baidu.com said in a statement stating company position: “Baidu would very much welcome our Chinese users to also be our shareholders someday. But we are not currently working on a domestic listing.”

Baidu.com Chief Financial Officer Shawn was quoted by the media outlet saying that the company is considering launching an IPO in the domestic market.

Cynthia He added: “Baidu’s informal discussions with the China Regulatory Securities Regulatory Commission took place before our NASDAQ IPO, when we were weighing our options for a market to list on.”

The company is currently the dominating player in the Chinese market and faces strong competition from the global leader Google.com which is expanding fast in this market, which houses the world’s second largest internet user base.