Date
17 October 2017

Sina plans US$500 mln Weibo unit IPO in US, report says

Sina Corp. aims to raise around US$500 million in a US initial public offering of its Twitter-like Weibo microblogging service in the second quarter of this year, the Wall Street Journal reported Monday, citing two people with direct knowledge of the deal. Sina, which is already listed in the US, has hired Credit Suisse AG and Goldman Sachs Group Inc. to handle the Weibo unit spinoff, a source was quoted as saying. Along with the US listing, Weibo could get a further boost from e-commerce giant Alibaba Group Holding Ltd., the report said. Alibaba is likely to increase its stake in Weibo to 30 percent from 18 percent if an IPO takes place, according to the report. 

– Contact HKEJ [email protected]

SK/RC

 

EJI Weekly Newsletter

Please click here to unsubscribe