Weibo's controlling shareholder SINA board authorized and approved the distribution of shares of Weibo to the shareholders on a pro rata basis (77.57)
- SINA will distribute one Weibo Class A ordinary share to the holder of each ten SINA ordinary shares. Holders of SINA ordinary shares that are settled through DTC will receive Class A ordinary shares represented by Weibo ADSs. The Weibo share distribution will be payable on or about July 10, 2017, to shareholders of record as of the close of business on June 7, 2017.
- Following the distribution of the Weibo shares, SINA's equity stake in Weibo will decrease from ~49% (or ~74% by voting power) currently to ~46% (or ~72% by voting power)