August 31 news, Sina announced today that its Board of Directors has approved the distribution to shareholders microblogging company (hereinafter referred to as microblogging) shares in accordance with a fixed proportion.
Sina Sina will be holders of ordinary shares and distribution microblogging Class A common stock at a ratio of 10 shares per ordinary shares of Sina shares microblogging distribution 1 Class A common stock. Held by DTC (Depository Trust Company) settled ordinary shareholders will receive a corresponding number of Sina microblogging Class A common stock, particularly in the form of micro-Bo ADS.
The microblogging stock delivery date is October 12, 2016 or before and after a few days, for the distribution of objects before September 12, 2016 end of the workday registered Sina shareholders. Upon completion of the stock distribution Weibo, Sina Weibo stake from the current 54% (voting rights ratio is about 78 per cent), to about 51% (voting rights proportion dropped to about 75%).