Baidu, the leading Chinese language Internet search provider, announced Wednesday afternoon it will offer 3.7 million ADSs within a price range of $19-$21. Insiders will be selling 1.1 million ADSs on the deal. Assuming the ADSs price at the midpoint, the company will have an initial market capitalization of $665 million. Goldman Sachs, CS First Boston and Piper Jaffray will underwrite the deal. Timing has yet to be determined.
