On Thursday, a document released by the Hong Kong Stock Exchange (HKEx) showed that leading Chinese microblogging platform Weibo had passed its listing hearing, with Goldman Sachs, Credit Suisse, CLSA and CICC acting as co-sponsors.
Weibo has not yet disclosed the precise level of funds it expects to raise in its Hong Kong IPO, but said that the money will be mainly used to continuously expand its user base and enhance user experience, as well as to improve the content ecosystem of the platform. The company also plans to invest in R&D to increase liquidity, selectively seek strategic cooperation, investments and acquisitions, and apply…