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天使投资唐 发表于 2014-4-7 04:00:36 | 显示全部楼层 |阅读模式
路透社4月4日错误的报道:微博估值16.6亿美元,在4月6日纠正为39亿美元!我本来想抄路透社的数字没错,刚看招股书结论:路透社原来错误只算0.876亿A类股x$19=16.6亿美元;IPO后有:(0.876亿A类股+1.158亿B类股)x $19 = 38.646亿美元。承销商还有30天股权多买3百万股。//@vinW:数学错啦你。卖10%融4个亿,估值40亿左右//@吴军:大哥,你会不会算呀,微博1普通股兑1ads,微博现在有1.8亿股,每股19$的话,市值34亿好吧,你怎么算的?

13年12月微博有:月活跃MAU/每天活跃用户DAU=1.291亿/6140万,而Twitter有2.41亿/1亿~=新浪x2。本来按微博直到去年的趋势,市值起码有Twitter上市估值240亿美元的1/2=120亿,天朝将某些大V干掉,将其他大V和谐掉,为新浪,微博,阿里等股东增值负80亿的贡献,这就是招股书里披露的所谓政策风险!中国特色!

邀请大家加入Webplus.com免费会员,参与【论坛】里的创业投融资等讨论,在『失败经验分享』分享失败案例,在『创新,IDEA,点子』分享好的idea或创意、在『创业者寻找投资者』里展示你的项目。付费会员可参加『创业成长退出上市沙龙』。请加 Webplus 微信公众平台号:webplusAngel

《天使投资》英文版第一卷#Angel Investment#Vol 1电子书Beta版 刚在亚马逊Kindle发布 http://smarturl.it/Angv1
粉丝特价0.99美元,书价格很快会涨>10美元。书不完美,请去en.Webplus.com给我意见或反馈!多谢捧场,将中国创业+天使的本色发扬光大去美国!
3月1在UC Berkeley 加州大学伯克利分校商学院MBA的亚洲商业年会的Finance Panel 演讲。BerkeleyABC.org。这是个很好在美国发布《Angel Investment》新书的活动。我演讲的视频:http://bbs.webplus.com/forum.php?mod=viewthread&tid=5853


路透社4月4日错误的报道 微博估值16.6亿美元 在4月6日纠正 为39亿美元!请看下面路透社的修正和其他主要媒体之前转载错误的数字!

Weibo IPO could value company at about $3.9 billion
http://www.reuters.com/article/2014/04/06/us-weibo-ipo-idUSBREA331TY20140406
Sun Apr 6, 2014 4:40am EDT
(Reuters) - China's Weibo Corp said it expected its initial public offering of 20 million American Depository Shares to be priced at $17-$19 each, valuing the Twitter-like messaging service at about $3.9 billion.
The IPO is expected to raise about $380 million at the top end of the expected price range.
Weibo, owned by Sina Corp, is the latest Chinese internet giant to tap U.S. markets, following on the heels of search service Baidu and its own corporate parent.
Alibaba Group Holding Ltd, which owns a stake in Weibo, is expected to raise about $15 billion in New York this year, in the biggest internet IPO since Facebook's debut in 2012.
Sina, which holds about 78 percent of Weibo, would see its stake drop to about 57 percent after the offering.
Weibo intends to list its common stock on the Nasdaq under the symbol "WB." (link.reuters.com/fyh38v)
The number of Chinese companies looking to list shares on the U.S. exchanges have risen steadily since last year despite simmering concerns among investors about Chinese accounting standards.
Weibo's advertising and marketing revenue rose almost three times to $148.42 million in 2013.
Total revenue rose to $188.3 million in 2013 from $65.9 million while net loss narrowed to $38.1 million from $102.5 million.
Goldman Sachs (Asia) LLC and Credit Suisse are the lead underwriters for the offering.
(Corrects headline and first paragraph to ... about $3.9 billion ... not ... $1.66 bln)


Weibo IPO could value co at about $1.66 billion
http://www.thefinancialexpress-bd.com/2014/04/06/27319
06 Apr, 2014
(Reuters): China's Weibo ……

Weibo IPO could value company at $1.66 billion
http://profit.ndtv.com/news/corporates/article-weibo-ipo-could-value-company-at-1-66-billion-384770
Reuters | Updated On: April 05, 2014

Weibo Corp IPO could value company at about $1.66 billion
http://articles.economictimes.indiatimes.com/2014-04-05/news/48887836_1_ipo-baidu-weibo
Reuters Apr 5, 2014, 12.20PM IST


Weibo IPO could value company at about $1.66 billion
http://news.yahoo.com/weibo-ipo-could-value-company-1-66-billion-212416737--sector.html
ReutersReuters – Fri, Apr 4, 2014
(Reuters) - China's Weibo Corp said it expected its initial public offering of 20 million American Depository Shares to be priced at $17-$19 each, valuing the Twitter-like messaging service at about $1.66 billion.
The IPO is expected to raise about $380 million at the top end of the expected price range.
Weibo, owned by Sina Corp, is the latest Chinese internet giant to tap U.S. markets, following on the heels of search service Baidu and its own corporate parent.
Alibaba Group Holding Ltd, which owns a stake in Weibo, is expected to raise about $15 billion in New York this year, in the biggest internet IPO since Facebook's debut in 2012.
Sina, which holds about 78 percent of Weibo, would see its stake drop to about 57 percent after the offering.
Weibo intends to list its common stock on the Nasdaq under the symbol "WB." (http://link.reuters.com/fyh38v)
The number of Chinese companies looking to list shares on the U.S. exchanges have risen steadily since last year despite simmering concerns among investors about Chinese accounting standards.
Weibo's advertising and marketing revenue rose almost three times to $148.42 million in 2013.
Total revenue rose to $188.3 million in 2013 from $65.9 million while net loss narrowed to $38.1 million from $102.5 million.
Goldman Sachs (Asia) LLC and Credit Suisse are the lead underwriters for the offering.


微博最新招股书:
http://www.sec.gov/Archives/edgar/data/1595761/000119312514131799/d652805df1a.htm
……
Immediately prior to the completion of this offering, our outstanding share capital will consist of Class A ordinary shares and Class B ordinary shares. Holders of Class A ordinary shares and Class B ordinary shares have the same rights except for voting and conversion rights. Each Class A ordinary share is entitled to one vote, and each Class B ordinary share is entitled to three votes and is convertible into one Class A ordinary share. Immediately after the completion of this offering, our parent company SINA Corporation will hold 115,808,031 Class B ordinary shares, representing 56.9% of our outstanding ordinary shares and 79.9% of our aggregate voting power, assuming the underwriters do not exercise their option to purchase additional ADSs.

In April 2013, Alibaba invested $585.8 million through Ali WB Investment Holding Limited, or Ali WB, its wholly owned subsidiary, in our ordinary and preferred shares representing approximately 18% of our then total outstanding shares on a fully diluted basis. Ali WB was granted an option to increase its ownership in our company up to 30% on a fully diluted basis. On March 14, 2014, Ali WB gave us notice that it would fully exercise the option upon the completion of this offering. Upon the completion of this offering, Ali WB will hold 32.0% of our ordinary shares and will have the right to appoint a number of directors in proportion to the percentage of its ownership in our company, which initially will be one director. See “Our Relationship with Major Shareholders—Our Relationship with Alibaba.”


THE OFFERING

Offering price
We currently estimate that the initial public offering price will be between $17.00 and $19.00 per ADS.

ADSs offered
20,000,000 ADSs

ADSs to Class A ordinary share ratio
Each ADS represents one Class A ordinary share, par value $0.00025 per share.

ADSs outstanding immediately after this offering
20,000,000 ADSs (or 23,000,000 ADSs if the underwriters exercise their option to purchase additional ADSs representing Class A ordinary shares in full)

Ordinary shares outstanding immediately after this offering
87,653,671 Class A ordinary shares (or 91,463,671 Class A ordinary shares if the underwriters exercise their option to purchase additional ADSs representing Class A ordinary shares in full) and 115,808,031 Class B ordinary shares (or 115,088,031 Class B ordinary shares if the underwriters exercise their option to purchase additional ADSs in full)

The ADSs
Each ADS represents one Class A ordinary share. The depositary will hold the Class A ordinary shares underlying your ADSs and you will have rights as provided in the deposit agreement.

You may turn in your ADSs to the depositary in exchange for Class A ordinary shares. The depositary will charge you fees for any exchange.

We may amend or terminate the deposit agreement without your consent. If you continue to hold your ADSs, you agree to be bound by the deposit agreement as amended.

To better understand the terms of the ADSs, you should carefully read the “Description of American Depositary Shares” section of this prospectus. You should also read the deposit agreement, which is filed as an exhibit to the registration statement that includes this prospectus.

Option to purchase additional ADSs
We have granted to the underwriters an option, exercisable within 30 days from the date of this prospectus, to purchase up to an additional 3,000,000 ADSs.

Alibaba investment
Ali WB, a wholly owned subsidiary of Alibaba, has agreed to purchase 3,023,996 ADSs from us in this offering at the initial public offering price. Assuming an initial offering price of $18.00 per ADS, the midpoint of the estimated range of the initial public offering price as set forth on the cover page of this prospectus, the aggregate purchase price would be $54.4 million. This investment is being made pursuant to an exemption from registration with the U.S. Securities and Exchange Commission under Regulation S of the U.S. Securities Act of 1933, as amended, or the Securities Act. See “Underwriting.” This investment is in addition to the 24,191,969 Class A ordinary shares that it is purchasing from SINA and the 3,023,996 Class A ordinary shares that it is purchasing from us in a concurrent private placement. See “Our Relationship with Major Shareholders—Our Relationship with Alibaba.”

Reserved ADSs
At our request, the underwriters have reserved for sale, at the initial public offering price, up to an aggregate of 1,600,000 ADSs offered in this offering to some of our directors, officers, employees, business associates and related persons through a directed share program.



Use of proceeds
We expect that we will receive net proceeds from this offering and the concurrent private placement to Alibaba of approximately $377.2 million, or approximately $428.8 million if the underwriters exercise their option to purchase additional ADSs from us in full, after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

We will use approximately $250 million of the net proceeds we receive from this offering to repay loans we owe to SINA, our parent company and controlling shareholder. We intend to use the proceeds from the issuance of ordinary shares to Ali WB upon its option exercise to repurchase certain shares and vested options held by individuals who provided services to us. We intend to use the remainder to invest in technology, infrastructure and product development, to expand sales and marketing efforts, and for working capital and other general corporate purposes. See “Use of Proceeds” for more information.

NASDAQ ticker symbol
WB

Depositary
JPMorgan Chase Bank, N.A.

Lock-up
We, our directors and executive officers, certain of our existing shareholders and certain of our option holders have agreed with the underwriters not to sell, transfer or dispose of any ADSs, ordinary shares or similar securities for a period of 180 days after the date of this prospectus, subject to certain exceptions, including the exercise by Ali WB of its option to acquire additional Class A ordinary shares under the shareholders’ agreement between us, SINA and Ali WB. In addition, through a letter agreement, we have agreed to instruct JPMorgan Chase Bank, N.A., as depositary, not to accept any deposit of any Class A ordinary shares or issue any ADSs for 180 days after the date of this prospectus unless we consent to such deposit or issuance, and not to provide consent without the prior written consent of Goldman Sachs (Asia) L.L.C. and Credit Suisse Securities (USA) LLC. The foregoing does not affect the right of ADS holders to cancel their ADSs and withdraw the underlying Class A ordinary shares. See “Shares Eligible for Future Sale” and “Underwriting.”

Risk factors
See “Risk Factors” and other information included in this prospectus for a discussion of risks you should carefully consider before investing in the ADSs.
The number of ordinary shares that will be outstanding immediately after this offering:

is based upon 180,437,706 ordinary shares outstanding as of the date of this prospectus, assuming the conversion of all outstanding preferred shares into 30,046,154 Class A ordinary shares immediately upon the completion of this offering;

assumes no exercise of the underwriters’ option to purchase additional ADSs representing Class A ordinary shares; and

includes 3,023,996 Class A ordinary shares to be issued to Ali WB in the concurrent private placement, being 10% of the total ordinary shares that Ali WB will purchase from us in a concurrent private placement pursuant to its option under the shareholders’ agreement between us, SINA and Ali WB. See “Our Relationship with Major Shareholders—Our Relationship with Alibaba—Shareholders’ Agreement.”



Ordinary Shares
Beneficially
Owned Prior to
This Offering
Ordinary
Shares Beneficially
Owned After This
Offering
Class A
Ordinary

Shares
Beneficially

Owned After
This

Offering
Class B Ordinary
Shares
Beneficially

Owned After This
Offering
Voting
Power
After
This

Offering
Number
%[size=9.090909004211426px](1)
Number
%[size=9.090909004211426px](2)
Number
%[size=9.090909004211426px](3)
Number
%[size=9.090909004211426px](4)
%[size=9.090909004211426px](5)
Directors and Executive Officers:**
Charles Chao(6)
2,412,500
  
1.3
  
2,412,500
  
1.2
  
2,412,500
  
2.7
  
  
  
*
  
Hong Du
*
  
*
  
*
  
*
  
*
  
*
  
  
  
*
  
Yichen Zhang
  
  
  
  
  
  
  
  
  
Frank Kui Tang***
  
  
  
  
  
  
  
  
  
Gaofei Wang
*
  
*
  
*
  
*
  
*
  
*
  
—  
  
—  
  
*
  
Bonnie Yi Zhang
  
  
  
  
  
  
  
  
  
Jingdong Ge
*
  
*
  
*
  
*
  
*
  
*
  
—  
  
—  
  
*
  
Yajuan Wang
—  
  
—  
  
—  
  
—  
  
—  
  
—  
  
—  
  
—  
  
—  
  
All directors and executive officers as a group(7)
5,012,475
  
2.7
  
5,012,475
  
2.5
  
5,012,475
  
5.6
  
—  
  
—  
  
1.2
  
Principal Shareholders:
SINA Corporation(8)
140,000,000
  
77.6
  
115,808,031
  
56.9
  
  
  
115,808,031
  
100
  
79.9
  
Ali WB Investment Holding Limited(9)
34,892,308
  
19.3
  
65,132,269
  
32.0
  
65,132,269
  
74.3
  
  
  
15.0
  




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Fis 发表于 2014-4-7 11:43:54 | 显示全部楼层
请问什么是A类股和B类股?
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 楼主| 天使投资唐 发表于 2014-4-7 15:05:30 | 显示全部楼层
Fis 发表于 2014-4-7 11:43
请问什么是A类股和B类股?

关于分类股(A类、B类、等)请看:
http://bbs.webplus.com/forum.php?mod=viewthread&tid=1616
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Fis 发表于 2014-4-7 15:41:15 | 显示全部楼层
天使投资唐 发表于 2014-4-7 15:05
关于分类股(A类、B类、等)请看:
http://bbs.webplus.com/forum.php?mod=viewthread&tid=1616 ...

涨姿势。
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