Weibo, Sina Corp.’s hugely popular Twitter-like microblogging service, has applied to the U.S. Securities and Exchange Commission for an initial public offering and plans to raise up to US$500 million, the Oriental Morning Post reported Monday. The company did not say which exchange it was targeting. The Financial Times quoted an unnamed person with knowledge of the matter as saying the company hopes to raise as much as US$700 million and have shares listed by end-April or early May. Goldman Sachs and Credit Suisse are underwriters for the IPO, the report said.
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