* Company expected to raise as much as $380 mln
* Intends to list on Nasdaq under symbol "WB"
* Goldman Sachs (Asia) LLC, Credit Suisse lead underwriters
April 4 China's Weibo Corp IPO-WB.O said it
expected its initial public offering of 20 million American
Depository Shares to be priced at $17-$19 each, valuing the
Twitter-like messaging service at about $1.66 billion.
The IPO is expected to raise about $380 million at the top
end of the expected price range.
Weibo, owned by Sina Corp, is the latest Chinese
internet giant to tap U.S. markets, following on the heels of
search service Baidu and its own corporate parent.
Alibaba Group Holding Ltd IPO-ALIB.N, which owns a stake
in Weibo, is expected to raise about $15 billion in New York
this year, in the biggest internet IPO since Facebook's
debut in 2012.
Sina, which holds about 78 percent of Weibo, would see its
stake drop to about 57 percent after the offering.
Weibo intends to list its common stock on the Nasdaq under
the symbol "WB." (link.reuters.com/fyh38v)
The number of Chinese companies looking to list shares on
the U.S. exchanges have risen steadily since last year despite
simmering concerns among investors about Chinese accounting
Weibo's advertising and marketing revenue rose almost three
times to $148.42 million in 2013.
Total revenue rose to $188.3 million in 2013 from $65.9
million while net loss narrowed to $38.1 million from $102.5
Goldman Sachs (Asia) LLC and Credit Suisse are the lead
underwriters for the offering.
(Reporting By Lehar Maan and Avik Das in Bangalore)