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.