April 16, 2014, 10:11 p.m. EDT
Weibo prices IPO at bottom of range, sells fewer shares: WSJ
By Michael Kitchen
LOS ANGELES (MarketWatch) -- Chinese microblogging-site operator Weibo Corp. has priced its initial public offering at $17, the low end of its $17-$19 range, while selling fewer shares than planned, The Wall Street Journal reported late Wednesday. Weibo sold 16.8 million shares -- raising $285.6 million if excluding the option for additional stocks -- after having planned to sell 20 million shares, the report said, citing two unnamed people familiar with the pricing. A subsequent Reuters report cited an underwriter as confirming both the pricing and offering size, with the result putting the company's value at $3.46 billion. Weibo is due to begin trading Thursday on the Nasdaq under the ticker WB.
