Sina Weibo, Twitter-like service under Chinese online media company Sina (NASDAQ:SINA), got listed on Nasdaq Capital Market on April 17 under the ticker symbol of “WB” after it filed for the long-rumored IPO in mid-March.

[Update] Sina Weibo downsized its IPO and the company’s shares opened at $16.26 on the first day of its trading, 4.3% lower than its IPO price. Shares of Weibo then surged 19.06% to close $20.24 per share, totaling an market valuation of more than $4 billion.

The company issued 16.80 ADSs at the bottom of its planned range of $17 apiece to raise $285.6 million of capital. The company had planned to sell 20 million ADSs at between $17 and $19 per share.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.