Sina Weibo, Twitter-like service under Chinese online media company Sina (NASDAQ:SINA), got listed on Nasdaq Capital Market on April 17 under the ticker symbol of “WB” after it filed for the long-rumored IPO in mid-March. [Update] Sina Weibo downsized its IPO and the company’s shares opened at $16.26 on the first day of its trading, 4.3% lower than its IPO price. Shares of Weibo then surged 19.06% to close $20.24 per share, totaling an market valuation of more than $4 billion. The company issued 16.80 ADSs at the bottom of its planned range of $17 apiece to raise $285.6 million of capital. Sina held a 77.6% stake in Weibo before the IPO.