SINA Corporation Seeks Secondary Offering in Hong Kong
SINA Corp., the Chinese technology giants that operates the popular Sina Weibo, Sina.com and Sina mobile, is seeking a secondary offering in Hong Kong according to Reuters China.
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SINA Corp. will be among the first wave of Chinese companies to take advantage of the new listing rules taking effect since April 30th by the the Stock Exchange of Hong Kong Limited under Hong Kong Exchanges and Clearing (HKEX).
The new changes include allowing companies to seek a secondary listing in Hong Kong and allowing listings by companies with a dual-class shares structure, a governance form often used by big technology firms.
SINA Corp. along with its Twitter-like microblogging platform provider Weibo Corp. are both listed on Nasdaq under the symbols of “SINA” and “WB”. The latter went public in April 2014 while its parent company was listed more than a decade earlier in April 2000.
According to an insider whose name could not be disclosed, the size of the upcoming IPO in Hong Kong has not been finalized and the listing will likely take place in Q4 of this year.