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Weibo Corp., the Chinese microblogging service often compared with Twitter, filed Friday for a US stock offering seeking to raise $500 million. The move will allow the popular Chinese-language social network to spin off from the Internet giant Sina, according to documents filed with the US Securities and Exchange Commission. The filing said Weibo had 129.1 million monthly active users in December and 61.4 million average daily active users. The company did not indicate whether Weibo would file its IPO on the Nasdaq or New York Stock Exchange.
Nico Rosberg maintained Mercedes' dominance with the fastest time in practice ahead of Saturday qualifying for the Formula One season opener in Australia. The German dashed around Melbourne's Albert Park street circuit in a best lap of one minute 29.375 seconds, 1.391sec ahead McLaren's Jenson Button. Rosberg's teammate Lewis Hamilton, who was fastest in Friday's practice, was fourth quickest (1:30.919), behind Fernando Alonso of Ferrari. Hamilton and Rosberg have been tipped to fight it out in Sunday's race, given Mercedes' superior pre-season testing and adjustment to rule changes, which include a fuel limit.