Friday, 4 April 2014
Weibo, the Chinese equivalent of Twitter, has released a pricing range for its upcoming IPO that would peg shares between $17-19, valuing the company between $3.5-$3.9 billion, The New York Times reports. Weibo, which was spun off from Sina, is looking to sell 20 million shares in the offering, potentially raising as much as $380 million. The firm also has a separate agreement with Alibaba that will see Sina sell additional shares to the ecommerce leader. In its filing, Weibo notes that it will use $250 million of the raised money to pay off loans from Sina and repurchase shares...
This story continues at The Next Web
