(Yicai Global) June 27 -- Demand for the USD800 million worth of notes that Weibo, which runs China's popular Sina Weibo microblogging platform, will issue in Singapore has exceeded supply by more than four times. 

Interest in the bonds was even greater than for recent offerings by Tencent Holding' and Baidu, Beijing-based Weibo said in a statement today. Weibo expects to raise USD793 million from the offering on the Singapore Exchange Securities Trading. The funds will be used for general corporate purposes, it added. 

Goldman Sachs Asia is the sole book runner for the five-year notes, which have a 3.5 percent coupon. Investors include BlackRock, Fidelity Investments, Lord, Abbett, AllianceBernstein Holding, and T. Rowe Price Group.

Weibo's first-quarter revenue rose 14 percent to USD399.2 million from a year earlier, the company said last month. Net profit jumped 52 percent to USD150.4 million. For the second quarter, it forecast revenue of USD427 million to USD437 million.

Weibo's [NASDAQ:WB] share price rose 2.5 percent to USD42.60 in New York yesterday. The shares have fallen about 55 percent from a 52-week high of USD94.94 last July.

Editor: Emmi Laine