bullish
Weibo (WB US): Lukewarm Interest for HK Listing, but Good Setup for Long-Term Growth
306 Views08 Dec 2021 04:02
Roger has highlighted this Insight as a Top Pick
SUMMARY
- 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.
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Roger Xie
China and US Equity Analyst
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