Sina Said to Select Banks for $500 Million Microblogging IPO

Sina Corp. has selected banks for an initial public offering of Sina Weibo, its Twitter-like microblogging service, that could raise about $500 million, said two people with knowledge of the matter.

Credit Suisse Group AG and Goldman Sachs Group Inc. are working on the planned U.S. listing, said the people, who asked not to be identified because the information is private. The share sale may start in the second half, one of the people said.