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Weibo Corp IPO may value firm at nearly $ 1.66 bn : Report


07 Apr 2014
According to a Reuters report, China’s Weibo Corp, which is coming out with an initial public offering (IPO) of 20 million American Depository shares may value the company at nearly USD 1.66 billion.

The price of the messaging service provider’s American Depository Shares has been set at USD 17-USD 19 each.

At the top end of the expected price range, the company is expected to garner nearly USD 380 million from the IPO.

Weibo Corp is owned by Sina Corp. Weibo is following in the footsteps of fellow Chinese search majors such as Baidu to foray into the US markets.

There has been a steady increase in the number of Chinese firms looking to tap into the US markets and list on the US stock exchanges since 2013 even as concerns over Chinese accounting standards worry investors.
Source: Dion Global   Type: IPO Related