- NASDAQ:SINA's buyback comes with shares having fallen 43% from a 52-week high of $92.83 ahead of Weibo's anticipated IPO, thanks in part to a massive March/April rout in Chinese Internet names.
- The buyback is good for repurchasing 14% of shares at current levels. Sina has $1.87B in cash and short-term investments to finance repurchases, and will soon be receiving additional funds via the sale of 24.2M Weibo shares to Alibaba.