HONG KONG: Chinese internet search giant Baidu Inc is set to raise $3.08 billion by pricing its shares at $HK252 each in its Hong Kong secondary listing, according to two sources with direct knowledge of the matter.

The New York listed Baidu is selling 95 million shares as part of the transaction.

The people could not be named as the information has not yet been made public.

Baidu did not immediately respond to a request for comment.