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Weibo Corp. (WB) shares fell Wednesday as the Twitter (TWTR) equivalent debuted in the Hong Kong market, with the Hong Kong listing for the stock of Chinese short-messaging app perhaps clearing the way for a delisting of Weibo's shares in New York, something its parent Sina did earlier this year....WB
The stake gives Beijing a board seat at the subsidiary, which holds some of the business licenses covering Douyin and Toutiao.. Read more at straitstimes.com.
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The Chinese government took a stake and a board seat in a key ByteDance entity this year - a move that raises questions over how much influence Beijing is planning to wield in a tech sector reeling under an onslaught of regulatory action.