Sina Corp Amends Weibo Stake Filing, Signals Ownership Change

TL;DR

**Sina Corp just updated its Weibo ownership, watch for market reaction.**

AI Summary

Sina Corporation, along with its group members New Wave MMXV Ltd and Chao Charles Guowei, filed an amended SC 13G/A on February 7, 2024, for their holdings in Weibo Corporation. This amendment, filed under Rule 13d-1(d), indicates a change in their beneficial ownership of Weibo's Class A ordinary shares as of December 31, 2023. This matters to investors because Sina Corporation is a significant shareholder, and changes in their reported ownership can signal shifts in their investment strategy or confidence in Weibo's future, potentially influencing market perception.

Why It Matters

This filing updates the public on a major shareholder's stake in Weibo, which can influence investor sentiment and potentially the stock price.

Risk Assessment

Risk Level: low — This is a routine amendment filing by a major shareholder, not indicating immediate high risk.

Analyst Insight

Investors should monitor subsequent filings for detailed changes in ownership percentages and consider the implications for Weibo's corporate governance and potential strategic directions.

Key Numbers

• $0.00025 — par value per share (par value of Weibo's Class A ordinary shares)
• 948596 101 — CUSIP Number (identifies Weibo Corporation's Class A ordinary shares)

Key Players & Entities

• Sina Corporation (company) — reporting person and major shareholder of Weibo Corp
• Weibo Corporation (company) — the issuer of the securities being reported
• New Wave MMXV Ltd (company) — group member of the reporting persons
• Chao Charles Guowei (person) — group member of the reporting persons
• December 31, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Sina Corporation will maintain a significant, albeit potentially adjusted, stake in Weibo Corporation. (Sina Corporation) — high confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.00025 — er) Class A ordinary shares, par value $0.00025 per share (Title of Class of Securiti
• $300 million — rporation is entitled to borrow up to US$300 million. The term for the SINA Facility Agreeme

Filing Documents

• tm244712d1_sc13ga.htm (SC 13G/A) — 81KB
• 0001104659-24-011275.txt ( ) — 83KB

(a)

Item 1(a). Name of Issuer: Weibo Corporation

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 8/F, QIHAO Plaza, No. 8 Xinyuan S. Road Chaoyang District, Beijing 100027 People’s Republic of China

(a)

Item 2(a). Name of Person Filing: Sina Corporation, Sina Group Holding Company Limited, New Wave MMXV Limited, and Chao Charles Guowei (collectively, the “ Reporting Persons ”)

(b)

Item 2(b). Address or Principal Business Office or, if none, Residence: No. 8 SINA Plaza, Courtyard 10, the West Xibeiwang E. Road Haidian District, Beijing 100193 People’s Republic of China

(c)

Item 2(c). Citizenship Sina Corporation is a Cayman Islands company. Sina Group Holding Company Limited is a Cayman Islands company. New Wave MMXV Limited is a British Virgin Islands company. Chao Charles Guowei is a citizen of Hong Kong SAR, PRC.

(d)

Item 2(d). Title of Class of Securities: Class A ordinary shares, par value $0.00025 per share The Issuer’s ordinary shares consist of Class A ordinary shares and Class B ordinary shares. The rights of the holders of Class A ordinary shares and Class B ordinary shares are identical, except with respect to conversion rights and voting rights. Each Class B ordinary share is convertible at the option of the holder into one Class A ordinary share, whereas Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Each Class B ordinary share is entitled to three votes, whereas each Class A ordinary share is entitled to one vote.

(e)

Item 2(e). CUSIP No.: 948596 101 This CUSIP number applies to the American Depositary Shares of the Issuer, each representing one Class A ordinary share of the Issuer, par value $0.00025 per share. No CUSIP has been assigned to the ordinary shares. Item 3. If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the persons filing is a: Not applicable Page 7 of 9 Item 4. The following information with respect to the ownership of the ordinary shares of the issuer by the reporting persons is provided as of December 31, 2023. The table below is prepared based on 154,788,918 Class A ordinary shares and 87,822,024 Class B ordinary shares outstanding as of December 31, 2023. Reporting Persons: Amount beneficially owned: Percent of class: Percent of aggregate voting power: Sole power to vote or to direct the vote: Shared power to vote or to direct the vote: Sole power to dispose or to direct the disposition of: Shared power to dispose or to direct the disposition of: Sina Corporation 87,822,024 (1) 36.2 % (1)(2) 63.0 % (5) 87,822,024 (1) 0 87,822,024 (1) 0 Sina Group Holding Company Limited 87,822,024 (1) 36.2 % (1)(2) 63.0 % (5) 87,822,024 (1) 0 87,822,024 (1) 0 New Wave MMXV Limited 87,822,024 (1) 36.2 % (1)(2) 63.0 % (5) 87,822,024 (1) 0 87,822,024 (1) 0 Chao Charles Guowei 88,405,034 (3) 36.4 % (3)(4) 63.1 % (5) 88,405,034 (3) 0 88,405,034 (3) 0 Notes: (1) Represents 87,822,024 Class B ordinary shares held by Sina Corporation that are convertible into 87,822,024 Class A ordinary shares at any time at the option of Sina Corporation. Pursuant to Rule 13d-3(d)(1), all shares of Class B ordinary shares (which are convertible into shares of Class A ordinary shares) held by Sina Corporation shall be deemed to be converted for the purposes of (i) determining the aggregate amount of shares of Class A ordinary share

View Full Filing

View this SC 13G/A filing on SEC EDGAR