Weibo microblog to attract more than half a billion dollars


November 29, Fineko/ The operator of Weibo, China's most popular microblogging platform, intends to raise about $547.3 million through the secondary listing at the Hong Kong Stock Exchange. 

ABC.AZ reports that a company based in Beijing, plans to issue 11 million shares. The maximum price will not exceed 388 Hong Kong dollars ($49.75). In all likelihood, the final placement price will be determined by Thursday, and the listing of shares at the stock exchange will begin on 8 December.

The Weibo microblogging service was launched in 2009.