Sina Corp plans secondary share listing in Hong Kong

Sina Corp, the Chinese internet company behind popular microblogging site Sina Weibo, has announced it plans to list on the Hong Kong Stock Exchange.

This will be a secondary listing as Sina is already registered on the NASDAQ.

This flotation would be to take advantage of Hong Kong’s new rules designed to attract tech equity offerings. Hong Kong Exchanges and Clearing has made it easier for Chinese companies to list, with some firms having previously been registered in New York of London now able to list in Hong Kong while allowing rights to be retained by existing shareholders.

See also:

Tech giant Sina enters insurance business

Sina 2017 financial reports show operating profit increase of 430%

Read the latest Asia edition of Business Chief here!

Restrictions have in the past meant Chinese tech giants such as Alibaba have registered in New York, with the HKSE missing out.

Sina has a 46% stake in Weibo Corp, the social networking company which provides China’s Twitter equivalent, Sina Weibo. Weibo is based in Beijing and is also listed on the NASDAQ.

It is hoped the listing will take place in Q4 this year. Sina Corp currently employs 63,400 people and posted a net income of $156.57mn last year.

 

Share

Featured Articles

Hybrid live event shaping the future of Sustainability & ESG

Sustainability LIVE London returns for a two-day, multi-track conference programme featuring inspirational ESG speakers, debates and discussions

Nine must-attend sustainability events for business leaders

From London to Abu Dhabi, Singapore to San Diego, these sustainability-focused events are designed to help business leaders action their ESG goals

Daniel Weise of BCG on new supply chain and procurement book

Daniel Weise, global leader of Boston Consulting Group’s procurement business line, on the timely publication of his new book, Profit From The Source

Attract and retain talent with flexible working and benefits

Human Capital

Nurturing the next generation of women leaders in Africa

Leadership & Strategy

5 Mins With: Cybersecurity expert Ariel Parnes of Mitiga

Technology