Blogging service to launch a Nasdaq IPO to raise $500m

Sina Corp's Weibo, which offers a micro blog service in China, moved closer to going public in the United States on Monday by choosing the Nasdaq for an initial public offering that could raise up to $500 million.

Alibaba Group Holding Ltd and JD.com Inc, which are the largest and second-largest e-commerce companies in China, are expected to follow suit with US listings of their own.