Sina Weibo sets price range for shares, aims to raise $437 million in IPO

China’s Twitter-esque Sina Weibo is now one big step closer to its IPO. The social network has filed a new form with the US SEC that shows Weibo will price its shares in the US$17 to $19 range. If it debuts at the top of that range, Weibo will raise $437 million.

Weibo had 143.8 million monthly active users in March.

Earlier this week, Weibo – which is a spin-off from web portal company Sina (NASDAQ:SINA) – revealed that it has opted for NASDAQ rather than the NYSE. Its stock ticker will be NASDAQ:WB.

(See: The omen: lessons from history reveal the dangers of the Sina Weibo IPO)