Sina Investor Seeks Changes in Rare Activism at a Chinese Firm

Sina Corp. is being pushed by an investor to consider selling a prized asset or buy back stock in a rare instance of investor activism involving a major Chinese corporation.

Aristeia Capital said the Beijing-based company, which controls Chinese Twitter-like service Weibo Corp., trades at a 41 percent discount to its book value for a disparity of almost $6 billion. That’s in part due to mis-management and the hedge fund wants two board seats to help address what it called years of “critical governance failures.” Aristeia said it’s nominating two director candidates after months of negotiations proved fruitless.