Baidu, Inc. (NasdaqGS:BIDU) has selected CLSA Limited and The Goldman Sachs Group, Inc. (NYSE:GS) for its planned second listing in Hong Kong, which could raise at least $3.5 billion, according to people familiar with the matter. Nasdaq-listed Baidu plans to sell shares in the Asian financial hub as soon as the first half of this year, the people said, asking not to be identified as the information isn’t public. The company could sell about 5% to 9% of its share capital, meaning the offering could raise at least $3.5 billion based on its latest market value of almost $70 billion. More banks could be added and details of the offering including timing and size are subject to change, the people said. Representatives for CLSA and Goldman Sachs declined to comment, while a representative for Baidu had no immediate comment.