Sina plans to take Weibo public in US

Sina Corporation (SINA.NASDAQ), owner of China’s Weibo social-media service, aims to take Weibo public in the US, The Wall Street Journal reported, citing two people with direct knowledge of the deal. Sina, which is already listed in the US, hopes to raise roughly $500 million in a second-quarter US initial public offering of the service and has hired Credit Suisse AG (CS.NYSE) and Goldman Sachs Group (GS.NYSE) to handle the listing. Weibo’s main competition is Tencent Holdings (0700.HKG), which owns the popular WeChat instant-messaging app.