BEIJING, May 26, 2017 /PRNewswire/ -- SINA Corporation
(the "Company" or "SINA") (NASDAQ: SINA), a leading online media
company serving China and the
global Chinese communities, today announced that its board of
directors has authorized and approved the Company's distribution of
shares of Weibo Corporation ("Weibo") to the Company's shareholders
on a pro rata basis. SINA is a controlling shareholder of Weibo.
Weibo's ADSs are currently traded on the NASDAQ Global Select
Market (NASDAQ: WB). SINA will distribute one Weibo Class A
ordinary share to the holder of each ten SINA ordinary shares.
Holders of SINA ordinary shares that are settled through DTC will
receive Class A ordinary shares represented by Weibo ADSs. The
Weibo share distribution will be payable on or about July 10, 2017, to shareholders of record as of
the close of business on June 7,
2017. Following the distribution of the Weibo shares, SINA's
equity stake in Weibo will decrease from approximately 49% (or
approximately 74% by voting power) currently to approximately 46%
(or approximately 72% by voting power).
About SINA
We are a leading online media company serving China and the global Chinese communities. Our
digital media network of SINA.com (portal), SINA Mobile (mobile
portal and mobile apps) and Weibo (social media) enables Internet
users to access professional media and user generated content in
multi-media formats from personal computers and mobile devices and
share their interests with friends and acquaintances.
SINA.com offers distinct and targeted professional content on
each of its region-specific websites and a full range of
complementary offerings. SINA.cn and SINA Mobile Apps provide news
information, professional and entertainment content from SINA.com
customized for mobile users in WAP (mobile browser) and mobile
application format. Weibo is a leading social media platform for
people to create, distribute and discover Chinese-language content.
Based on an open platform architecture, Weibo allows users to
create and post feeds and attach multi-media content, as well as
access a wide range of organically and third-party developed
applications, such as online games.
Through these properties and other product lines, we offer an
array of online media and social media services to our users to
create a rich canvas for businesses and advertisers to effectively
connect and engage with their targeted audiences.
Contact:
Investor Relations
SINA Corporation
Phone: +86 10 5898 3336
Email: ir@staff.sina.com.cn
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SOURCE SINA Corporation