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Weibo to list on Nasdaq
2014-04-18 04:40


The Chinese social media service Weibo will be listed on the Nasdaq on Thursday under the ticker symbol "WB".

One underwriter for Weibo, which is owned by web portal Sina.com, says it sold 16.8 million shares in its initial public offering, raising 285.6 million dollars.

Weibo priced its IPO at 17 U.S. dollars per American Depositary Share. The company had planned to sell 20 million shares at between $17 and $19 per share.

Weibo's revenue almost tripled to 188.3 million in 2013 from a year earlier while its net loss narrowed to 38.1 million from 102.5 million.

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