저작권자 © Korea IT Times 무단전재 및 재배포 금지
BEIJING, May 26, 2017 /PRNewswire/ Korea IT Times-- 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).
