The FT's Josh Noble has brought us a scoop: Chinese internet platform Sina has picked banks for a spin-out of its Twitter-like micro-blogging service Weibo, the latest in a rash of high-profile deals in the tech sector.
The company has hired Goldman Sachs and Credit Suisse to manage the New York listing, according to two people familiar with the matter.
Sina is looking to raise about $500m through the deal, which is expected to complete in the second quarter.
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