Sina Weibo shares jump 19% in US debut

Sina Weibo shares jump 19% in US debut

AFP Sina Weibo, China's answer to Twitter, debuted on the Nasdaq exchange Thursday with a 19.1 percent jump despite an IPO that went out undersubscribed and lower priced than hoped. In a spate of buying that suggested that Wall Street's waters are still welcoming to loss-making technology high flyers, and to Chinese firms as well, Weibo shares rose from the subscription price of $17 to as high as…

Australian Markets

  • Weibo shares jump in market debut Associated Press - 1 hour 21 minutes ago

    Chinese social media company Weibo Corp.'s shares soared in their U.S. market debut Thursday. Weibo was launched four years ago by Chinese online media company Sina Corp. Weibo provides a Twitter-like ...

  • Mid-cap stocks are getting some love, finally Associated Press - 3 hours ago

    Maybe the middle child really should be the favorite. Just like families sometimes overlook the middle kid, investors all too often pay attention to just the smallest and largest stocks. Managers of mid-cap ...

  • Sina Weibo shares jump more than 10% after IPO AFP - 15 hours ago
    Sina Weibo shares jump more than 10% after IPO

    Shares of Sina Weibo, China's answer to Twitter, jumped more than 10 percent in initial trade Thursday after an undersubscribed initial public offering. Weibo's parent, the Chinese Internet giant Sina Corp, sought to raise as much as $380 million listing the subsidiary on the Nasdaq exchange, but only pulled in $286 million as it ran into a market jittery over both tech and Chinese company shares.

  • Sina Weibo shares jump more than 6% after IPO AFP - 15 hours ago
    Sina Weibo shares jump more than 6% after IPO

    Shares of Sina Weibo, China's answer to Twitter, began trading sharply higher Thursday after an undersubscribed initial public offering. Minutes into trade the shares were over $18, compared with the $17 ...

  • Japara Healthcare Ltd gives IPO investors a 27.5% stag profit – what investors need to know The Motley Fool Australia - 16 hours ago

    Freshly floated aged care operator Japara Healthcare Ltd (ASX:JHC) has surged 27.5% to $2.55 by early afternoon on Thursday after debuting on the stock market this morning. It's an amazing immediate profit for IPO investors - otherwise known as a 'stag profit'. The initial public offering (IPO) was priced at $2.00 per share which equated to an expensive looking 22.6 times price-to-earnings (PE) ratio. The market however appears comfortable with ascribing a high value to Japara, with investors excited by the quality of the business and its growth potential.

  • 'Chinese Twitter' firm Weibo to go public in US AFP - 18 hours ago
    'Chinese Twitter' firm Weibo to go public in US

    Sina Weibo, widely known as China's version of Twitter, is to go public in the United States Thursday at a price below expectations after a recent sell-off in technology stocks. The microblogging subsidiary of Chinese Internet behemoth Sina was to make its debut on the Nasdaq exchange under the symbol "WB" in an initial public offering (IPO) expected to raise at least $340 million. Sina Weibo -- launched in August 2009 to provide services similar to Twitter, which is banned in China -- is a leading social media site in a country with 618 million Internet users -- the world's largest online community. But the estimated value of the IPO, filed by Weibo with the US Securities and Exchange Commission this month, was down on the sum of up to $500 million indicated in March -- reflecting a gloomy market outlook after the Nasdaq index suffered more than three weeks of declines.

  • Stocks to watch at noon on Thursday AAP - 20 hours ago

    Stocks to watch on the Australian stock exchange at noon on Thursday: API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES - down 1.5 cents, or 2.65 per cent, at 55 cents Australian Pharmaceutical Industries is ...

  • Weibo, a Chinese Answer to Twitter, Prices Its Offering at $17 The New York Times - 20 hours ago

    The microblogging service set a price at the bottom of its expected range, and will carry a value well below that of Twitter when it begins trading on the public markets.

  • Weibo IPO below expectations, raises $285.6 mn AFP - 22 hours ago
    Weibo IPO below expectations, raises $285.6 mn

    Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street. The firm, often described as China's version of Twitter, sold 16.8 million US depositary shares, according to Dow Jones Newswires, while a person familiar with the deal told AFP each share was priced at $17. In March, Weibo had estimated the value of its initial public offering at as much as $500 million. The offering comes as Chinese e-commerce giant Alibaba -- a shareholder in Weibo -- is preparing its own eagerly anticipated IPO later in the year, which is expected to be the biggest in the tech sector since Facebook's in 2012.

  • McAleese Ltd plunges 15.5% – Should you sell too? The Motley Fool Australia - 23 hours ago

    If you were unlucky enough to receive an allocation in the McAleese Ltd (MCS.AX) initial public offering (IPO) last November, or unfortunate enough to have decided to purchase stock on market since the IPO you are no doubt bewildered by the transport company's second profit warning which has sent the share price down 15.5% to close at a new all-time low of 43.5 cents. Perhaps one comforting factor for investors is that Chairman and now CEO Mark Rowsthorn - who was previously CEO at rail freight company Asciano Ltd (AIO.AX) and before that a senior director at freight and logistics group Toll Holdings Limited (TOL.AX) - owns around 30% of McAleese, so at least he is feeling the pain of the company's dismal performance too! McAleese has certainly been the worst of the recent bundle of floats to hit the market and a far cry from Beacon Lighting Group Ltd's (ASX:BLX) 60% gain on debut. It's a good reminder that IPO investing does not guarantee profits and sooner or later - in McAleese's case sooner - the stock price will be driven by fundamentals not hype.

 

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