Twitter-like messaging service Weibo Corp has filed to raise $500 million via a US initial public offering, as Chinese companies flock to the American market to take advantage of soaring valuations.
The messaging service owned by China's Sina Corp hired Goldman Sachs and Credit Suisse to manage its US debut, which it said would boost brand recognition and help retain talent.
Its proposed $500 million target is an estimate worked out solely for the purposes of calculating registration fees.
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