Weibo, Leju close with big post-IPO gains

|About: Weibo Corporation (WB)|By:, SA News Editor

Though pre-IPO demand was muted (leading to conservative pricing) and initial trading wasn't impressive, Weibo (WB +19.1%) and Leju (LEJU +18.6%) closed up strongly. The former is now worth $4.05B (21x sales), and the latter $1.57B (4.7x sales).

Sina (SINA +6.7%) managed to follow Weibo higher, but E-House (EJ -5%) couldn't get a similar lift from Leju.

Chinese Internet companies with upcoming IPOs - the list includes JD.com, Jumei.com (JMEI), and Cheetah Mobile - are likely breathing sighs of relief.