You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Chinese microblogging service Weibo plans public offering

SHANGHAI — Sina Corp., one of China’s biggest Internet portals, is preparing an initial public offering in the United States for Weibo, its Twitter-like microblogging service, according to people close to the matter.

The offering, which has not been formally announced, could raise up to $500 million later this year. Goldman Sachs and Credit Suisse have been selected to underwrite the offering, according to the people.

Continue reading below

Goldman Sachs and Credit Suisse declined to comment Monday, and a Sina representative could not be reached for comment.

Over the last two years, China’s big three Internet companies — Alibaba, Baidu, and Tencent — have spent several billion dollars acquiring Chinese startups and international online game companies.

Later this year, two of China’s biggest e-commerce companies, Alibaba and JD.com, are expected to go public in the United States. The Alibaba offering, which has not been completed, could be the biggest stock offering in history, valuing the company at more than $100 billion.

Last year, Alibaba paid $586 million to buy an 18 percent stake in Sina Weibo, valuing the company at $3.3 billion. The other 71 percent stake is held by Sina. Some analysts project that Sina’s Weibo unit could be worth $5 billion, even more than its parent, which is listed on the Nasdaq.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.