Attention, those of you who own SINA Corporation (SINA): SINA has announced a new spin-off of shares for its subsidiary Weibo Corporation (WB). Each owner of SINA will receive one share of WB for every ten shares owned of SINA.
On Trade Day, you will want to sell your shares of WB at the market price. Since the proceeds of WB is a small percentage of the overall value of the SINA position, we will treat the proceeds of the sale as a dividend. You can add the proceeds of the sale to the dividend line on this month’s Stake worksheet. Do not sell your WB shares prior to June’s expiration.
Lattco PRO / Lattco AutoPilot Clients: After you have completed selling off your WB shares, please contact us and we will perform the necessary adjustments to your account.
If you have any questions, please don’t hesitate to contact us at support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.
