SINA Reports Distribution Of Weibo Shares

(RTTNews) - SINA Corp. (SINA), online media company serving China and the global Chinese communities, said that its board has authorized and approved the Company's distribution of shares of Weibo Corp. 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 (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.