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.
Weibo -- “Twitter of China” -- Set for U.S. IPO
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.
This article originally appeared on Recode.net.
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