Weibo (NASDAQ:WB), the microblogging service owned by Beijing-based Sina (SINA:NASDAQ), had a tepid IPO on Thursday, jumping 19% in its first day of trading after pricing its IPO at the low end of the marketed range, Bloomberg reported. The shares climbed US$3.24 to US$21.24 in New York, after they were priced at US$17 each. Weibo, which also counts Alibaba Group among its backers, raised US$285.6 million in the IPO, after offering the shares for a range of US$17 to $19 apiece. Weibo’s IPO was set against the backdrop of tumbling technology stocks.
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