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Stock Market & Financial Investment News

News Breaks
March 16, 2014
20:19 EDTSINASINA's Weibo files preliminary prospectus to raise up to $500M in U.S. IPO
Weibo, a social media platform in China and a majority-owned subsidiary of SINA (SINA) filed a preliminary prospectus on Friday for an initial public offering in the U.S. to raise up to $500M. In the filing with the SEC Weibo said, "We will use approximately $250M of the net proceeds we receive from this offering to repay loans we owe to SINA, our parent company and controlling shareholder. We intend to use the remainder to invest in technology, infrastructure and product development, to expand sales and marketing efforts, and for working capital and other general corporate purposes." Shares of SINA were up over 7% in post-market trading on Friday.
News For SINA From The Last 14 Days
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March 25, 2015
10:16 EDTSINASINA calls active as shares move off lows on renewed takeover speculation
SINA March 33 and 34 weekly calls are active on 6K contracts (1K puts) amid renewed takeover speculation. March weekly call option implied volatility is at 48, April is at 30, May is at 33; compared to its 26-week average of 37 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:07 EDTSINARumor: SINA moves off lows on renewed takeover chatter

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