Weibo Corporation Proposes New Offering of American Depositary Shares

BEIJING, Nov. 29, 2023 — Today, Weibo Corporation (hereinafter referred to as 'Weibo' or the 'Company'), a prominent social media entity in China operating under the stock ticker WB, disclosed its plans to initiate an offering of American Depositary Shares (ADSs). Weibo, recognized for its significant role in enabling users to craft, share, and uncover content, is set to expand its financial horizons through this strategic move.

Overview of Weibo's Market Position

Weibo Corporation, with its ticker WB, has emerged as a pivotal platform in China's social media landscape. The company allows its substantial user base to engage with a dynamic array of content, thus fostering a vibrant, interactive community. The intention to offer ADSs is seen as a further step in bolstering Weibo's market presence and capital resources.

Details of the Proposed ADS Offering

The announcement outlines the commencement of an offering of ADSs by Weibo. Each ADS represents one Class A ordinary share, and the offering is integrated with the Delta Placement of Borrowed ADSs. Details regarding the pricing, volume, and timing of the offering are yet to be disclosed, but the market anticipates keen investor interest due to Weibo's solidified stance in the Chinese market. The proceeds from this offering are expected to fuel Weibo's continued growth and operational expansion.

The proposed offering signifies not only a potential financial boon for Weibo but also presents new opportunities for investors seeking to participate in the growth trajectories of leading social media platforms within the Chinese economy.

Weibo, ADS, Offering