China and US Equity Analyst

Roger Xie

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weibo-corp-adr" target="_blank" data-smartkarma-citation="entities:3826:1" rel="noopener">Weibo Corp (WB US)</a> announced its Hong Kong offering price at HK$ 272.80 per share, roughly in-line with current trading price of US-listed ADR but lower than initial expectation.</li>
<li>The lukewarm interest from investors underscores the regulatory headwind around one of China largest social media platform, which is unprecedented in our view.</li>
<li>We want to reiterate our bullish view on Weibo, who has amassed 521 million monthly active users. <a href="https://www.smartkarma.com/entities/weibo-corp-adr" target="_blank" data-smartkarma-citation="entities:3826:1" rel="noopener">Weibo Corp (WB US)</a> is traded at forward 15x consensus P/E.</li>
</ul>



Weibo Corp (WB US) announced its Hong Kong offering price at HK$ 272.80 per share, roughly in-line with current trading price of US-listed ADR but lower than initial expectation.
The lukewarm interest from investors underscores the regulatory headwind around one of China largest social media platform, which is unprecedented in our view.
We want to reiterate our bullish view on Weibo, who has amassed 521 million monthly active users. Weibo Corp (WB US) is traded at forward 15x consensus P/E.


Weibo (WB US): Lukewarm Interest for HK Listing, but Good Setup for Long-Term Growth

China

Weibo Corp operates as a social media platform for people to create, distribute and discover Chinese language contents. The Company offers users public self expression in real time with a powerful platform for social interaction, as well as content aggregation and distribution. Weibo enables its advertising and marketing customers to promote their brands and services to users.

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Weibo (9898 HK)

Weibo (WB US): Lukewarm Interest for HK Listing, but Good Setup for Long-Term Growth

We become more bullish on Weibo (WB US) with valuation at forward 15x consensus P/E, though there is lukewarm interest for its Hong Kong public...

Roger Xie

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