BEIJING, April 17, 2014 (GLOBE NEWSWIRE) -- Weibo Corporation ("Weibo" or the "Company") (Nasdaq:WB), a leading social media platform for people to create, distribute and discover Chinese-language content, today announced that its initial public offering of 16,800,000 American depositary shares ("ADSs"), each representing one Class A ordinary share of the Company, was priced at $17 per ADS. The ADSs will begin trading on the NASDAQ Global Select Market on April 17, 2014 under the symbol "WB."
All of the 16,800,000 ADSs in the offering are offered by Weibo. The underwriters have been granted a 30-day option to purchase up to 2,520,000 additional ADSs from Weibo to cover over-allotments.
Goldman Sachs (Asia) L.L.C. and Credit Suisse Securities (USA) LLC acted as joint book runners for the offering.
Weibo's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by calling Goldman, Sachs & Co. at 1-866-471-2526 or Credit Suisse Securities (USA) LLC at 1-800-221-1037.
Weibo is a leading social media platform for people to create, distribute and discover Chinese-language content. By providing an unprecedented and simple way for Chinese people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world, Weibo has had a profound social impact in China. In March 2014, Weibo had 143.8 million MAUs and 66.6 million average DAUs. Over 70% of our MAUs in December 2013 accessed Weibo from mobile devices at least once during the month.
A microcosm of Chinese society and a cultural phenomenon in China, Weibo allows people to be heard publicly and exposed to the rich ideas, cultures and experiences of the broader world. Media outlets use Weibo as a source of news and a distribution channel for their headline news. Government agencies and officials use Weibo as an official communication channel for disseminating timely information and gauging public opinion to improve public services. Individuals and charities use Weibo to make the world a better place by launching charitable projects, seeking donations and volunteers and leveraging the celebrities and organizations on Weibo to amplify their social influence.
Safe Harbor Statement
This press release contains forward-looking statements. Weibo assumes no obligation to update the forward-looking statements in this press release and elsewhere unless required by law. Statements that are not historical facts, including statements about the Company's plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to risks included in Weibo's filings with the Securities and Exchange Commission.
CONTACT: For investor and media inquiries, please contact: Investor Relations Weibo Corporation Phone: 8610-82628888 x 3112 Email: firstname.lastname@example.org Media Relations ICR for Weibo Matthew Lindberg Phone: 203-682-8214 Email: email@example.comSource: Weibo