China's Weibo plans to raise $385 mn from Hong Kong secondary listing

Chinese social media firm Weibo Corp plans to price its shares at HK$272.8 ($35.01) each to raise $385 million in its Hong Kong secondary listing, said three sources with direct knowledge of the matter.

The sources could not be identified as the information has not yet been made public.

Weibo did not immediately respond to a request for comment.

Weibo's U.S. shares endured a torrid night on Wednesday as it was caught up in the broad selloff nL1N2SM35K across the equities market which unfolded on fears about the Omicron coronavirus variant.

The stock closed down 9.5% at its lowest in almost a year.

Hong Kong's