Weibo Seeks Valuation of Up to $3.9 Billion in U.S. Share Sale
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Weibo Corp., China’s biggest microblogging outlet, is seeking as much as $380 million in an initial public offering, joining a slew of Chinese Internet companies looking to list newly issued shares in the U.S.
The company plans to offer 20 million shares for $17 to $19 apiece, according to a regulatory filing yesterday. At the top of the offering range the company would have a market value of about $3.9 billion, the filing shows. Weibo, based in Beijing, plans to use some of the proceeds from the offering to repay loans to parent Sina Corp.