Sunday, 6 April 2014

Sina Weibo sets price range for shares, aims to raise $437 million in IPO

Sina Weibo IPO
China’s Twitter-esque Sina Weibo is now one big step closer to its IPO. The social network has filed a new form with the US SEC that shows Weibo will price its shares in the US$17 to $19 range. If it debuts at the top of that range, Weibo will raise $437 million. Weibo had 143.8 million monthly active users in March. Earlier this week, Weibo – which is a spin-off from web portal company Sina (NASDAQ:SINA) – revealed that it has opted for NASDAQ rather than the NYSE. Its stock ticker will be NASDAQ:WB.

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