Weibo files for Hong Kong secondary listing, as China’s answer to Twitter joins march by Chinese stocks to list nearer home

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Weibo filed a draft prospectus with the Hong Kong stock exchange on Thursday, as China’s leading microblogging platform seeks a secondary listing to raise capital to expand its content offering and upgrade its technology.

The company, 44.4 per cent owned by Chinese online media giant Sina Corporation, will become the latest US-listed Chinese technology firm to seek a listing closer to home after New York-listed Chinese electric vehicle maker Li Auto raised US$1.7 billion in August, according to data from Refinitiv.