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Weibo prices IPO at low end of range - report
2014-04-17 08:57:00| Telecompaper Headlines
(Telecompaper) Chinese microblogging service Weibo raised USD 285.6 million in its US initial public offering, after pricing the shares at the low end of the indicated range, people with knowledge of the matter told Bloomberg. Weibo sold 16.8 million American depositary shares for USD 17 each. The shares had been offered for USD 17-19 apiece. The company's shares will be listed on the Nasdaq market. Weibo plans to use most of the proceeds from the IPO to repay loans to its parent company Sina.
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Category:Telecommunications
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