China’s Weibo priced its initial public offering at $17 per American Depository Share, at the bottom of its planned range, an underwriter told Reuters.
That put the value of the microblogging firm, which will trade under the ticker symbol “WB” on the Nasdaq on Thursday, at $3.46 billion. Bloomberg noted that would make it half as valuable as Twitter.
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This article originally appeared on Recode.net.
