Weibo prices downsized IPO at $17, at the low end of the range

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Weibo, China's largest microblogging service with 143.8 million MAUs and a spinoff of Sina, raised $286 million by offering 16.8 million ADSs (down from 20 million) at $17, the low end of the $17-$19 range. Weibo raised 21% fewer proceeds than initially expected and now commands a $3.7 billion fully diluted market cap ($3.2 billion EV). Weibo will list on the NASDAQ under the symbol WB. Goldman Sachs (Asia), Credit Suisse, Morgan Stanley and Piper Jaffray acted as lead managers on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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