Weibo micro blog to list on Nasdaq
By MENG JING (chinadaily.com.cn) Updated: 2014-04-01 14:22
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 A Sina Weibo booth displays at a conference on September 24, 2013 in Beijing. [Photo / dfic.cn] |
Weibo, which offers a micro blog service in China, plans to list on Nasdaq under the ticker symbol WB, according to the company's updated SEC filing on Monday.
Morgan Stanley, Piper Jaffray and China Renaissance are among Weibo's underwriters.
According to Weibo's filing in mid-March, the Beijing-based company plans to raise up to $500 million by going public in the United States.
The social networking site owned by Sina Corp started to make a profit for the first time by bringing in $3 million in the last quarter of 2013.
The company saw its monthly active users increase rapidly to 129 million in December.
Alibaba Group Holding Ltd, China's Internet giant, which is also looking toward an initial public offering in the US, has about a 19 percent stake in Weibo.
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