BEIJING, April 28, 2010 /PRNewswire via COMTEX/ --Baidu, Inc. (Nasdaq: BIDU), the
leading Chinese language Internet search provider, today announced that it
will change the ratio of its American depositary shares ("ADSs") representing
Class A ordinary shares from one (1) ADS for one (1) share to ten (10) ADSs
for one (1) share.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO )
The record date for the ratio change is May 10, 2010. For Baidu's ADS
holders, this ratio change will have the same effect as a 10-for-1 ADS split.
There will be no change to Baidu's ordinary shares. Furthermore, no action by
ADS holders is required to effect the ratio change.
The effect of the ratio change on the ADS trading price on Nasdaq is
expected to take place on May 12, 2010.
Baidu, Inc. is the leading Chinese language Internet search provider. As a
technology-based media company, Baidu aims to provide the best way for people
to find information. In addition to serving individual Internet search users,
Baidu provides an effective platform for businesses to reach potential
customers. Baidu's ADSs, each of which represents one Class A ordinary share,
are currently trading on the NASDAQ Global Select Market under the symbol
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Statements that are not historical facts, including statements
about Baidu's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties that could
cause actual results to differ materially from those contained in any
forward- looking statements. A number of factors could cause actual results to
differ materially from those contained in any forward-looking statement,
including but not limited to the following: our growth strategies; our future
business development, including development of new products and services; our
ability to attract and retain users and customers; competition in the Chinese
and Japanese language Internet search markets; competition for online
marketing customers; changes in our revenues and certain cost or expense items
as a percentage of our revenues; the outcome of ongoing, or any future,
litigation or arbitration, including those relating to intellectual property
rights; the expected growth of the Chinese language Internet search market and
the number of Internet and broadband users in China; Chinese governmental
policies relating to the Internet and Internet search providers and general
economic conditions in China, Japan and elsewhere. Further information
regarding these and other risks is included in our annual report on Form 20-F
and other documents filed with the Securities and Exchange Commission. All
information provided in this press release is as of April 28, 2010, and Baidu
undertakes no duty to update such information, except as required under
For investor inquiries please contact:
Mr. Victor Tseng
Ms. Cynthia He
Brunswick Group LLC
In the U.S.:
Ms. Kate Tellier
Brunswick Group LLC
SOURCE Baidu, Inc.