April 17 Shares of Weibo Corp, the owner
of a Chinese Twitter-like messaging service, rose more than 11
percent in their U.S. debut, overcoming worries about the
outlook for tech sector and concerns that censorship in China
was affecting its user growth.
Weibo's shares had been priced at the bottom end of the
target range of $17-19, and the size of the offering had been
cut to 16.8 million American Depositary Shares from 20 million.
The shares touched a high of $18.91 in early trading on
Thursday, valuing the company at $3.85 billion. The offering
raised $286 million for Weibo.
(Reporting by Tanya Agrawal in Bangalore; Editing by Ted Kerr)