Baidu's Kunlun Core Technology plans to list in Hong Kong

On June 29, Baidu's Kunlun Core Technology plans to list in Hong Kong. According to people familiar with the matter, its target valuation is US$50 billion. Kunlun Core's IPO will give priority to investors who purchase its chips. Investors must promise to buy chips with the value of their subscriptions. 3 to 7 times the amount. (TheInformation)