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Another delisting from the US? Sina CEO Cao Guowei's privatization proposal received

via:博客园     time:2020/7/6 23:53:53     readed:80

Recently, many companies of China capital stock listed in the United States are considering delisting. Previously, 58 cities have been privatized and delisted. Now it's Weibo's turn. Sina CEO Cao Guowei's proposal to privatize the company was announced on Weibo tonight, at a discount of $41 per share.

Weibo said that after receiving the preliminary non binding privatization proposal, new wave Holdings (the holding company held by Sina CEO Cao Guowei) will propose to privatize the company at a price of $41 per share. The company has formed a special committee to evaluate and consider the proposal.

Affected by the news, the share price of microblog soared, reaching 38.1 U.S. dollars at the time of publishing, up 13%.

How will micro blog develop after privatization? There is no official information yet, but it is obvious that one of the most likely options is from delisting in the us to listing in Hong Kong.

Microblog is one of the largest social media platforms in China. As of March 31, the net revenue of microblog in the first quarter was $323.4 million, down 19% from $399.2 million in the same period of last year. The number of active users per month was 550 million, a net increase of 85 million over the same period of last year. About 94% of the monthly active users are mobile users.

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