Sina Prepares New York IPO For Weibo

Hires Goldman Sachs and Credit Suisse to manage deal

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Nelson Ching / Bloomberg via Getty Images

The Sina Corp. weibo microblog website is displayed on a computer in Beijing, China, on Friday, Dec. 16, 2011.

Chinese internet platform Sina has hired Goldman Sachs and Credit Suisse to manage a New York IPO for its immensely popular micro-blogging service Weibo, making it the latest in a string of recent, high-profile Chinese tech listings.

The deal is expected to be completed in the second quarter and the company aims to raise around $500 million, according to the Financial Times. A sharply rising share price for Sina in the past year could indicate a market value for Weibo of more than $4 billion.

Sina will report its fourth quarter results after the end of Monday’s trading in New York.



Anyone who invests in Weibo and its IPO is directly supporting the Communist Party, and contributing to its censorship of over 1-billion citizens.
Boycott this IPO, and keep Chinese "media" corporations out of worldwide mass consumption ...