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.
Read the rest of this post on the original site »
This article originally appeared on Recode.net.
We have a request
Vox's journalism is free because we believe that everyone deserves to understand the world that they live in. That kind of knowledge helps create better citizens, neighbors, friends, parents, consumers and stewards of this planet. In short, understanding benefits everyone. You can join in on this mission by making a financial gift to Vox today. Reader support helps keep our work free, for everyone. Will you join us?
Yes, I'll give $120/year
Yes, I'll give $120/year
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via
