06 July 2021, 2:21 pm. 1 minute
Reuters exclusively reported that the company’s chairman and a Chinese state investor plan to take China’s answer to Twitter private. Those gains shrunk to just over 6% after the opening bell. A deal could value Weibo at more than $20 billion, facilitate shareholder Alibaba’s exit and see Weibo eventually relist in China to capitalize on higher valuations.
Shares of Weibo Corp surged more than 50% in premarket trading following the Reuters report.
Topics of Interest: Technology
Type: Reuters Best
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story