HONG KONG (Reuters) — The Hong Kong Stock Exchange’s Listing Committee has granted Weibo Corporation permission to trade shares within the city. This, according to regulatory filings. It is now a secondary New York Stock Exchange listing.

Weibo doesn’t specify the price of China’s most popular microblogging site, or the timeframe for its sale.

They were included in a Post-Committee Hearing Information Pack published by the Hong Kong Stock Exchange. This indicated that Weibo had received approval to continue with the listing.

Sources have previously told Reuters the deal would be worth about $700 million https://www.reuters.com/article/us-weibo-listing-hongkong-idUKKBN2AN0QT.

According to two sources with direct knowledge, the amount has not been determined.

Weibo did not respond to our request for comment.

New York-listed shares are up by 1.88% and have a market capitalisation in excess of $9.5billion. Weibo’s market capitalisation was $13.2 billion in February when Reuters announced the appointments of banks to the Hong Kong listing.

Chinese giant of e-commerce Alibaba The New York Stock Exchange is owned by the Group, which holds 7.4%.

According to Reuters, Weibo had been reported by Reuters in July that he was looking to become private through the assistance of a Shanghai state-owned firm. This is in an attempt to assist Alibaba in its divestment efforts. Charles Chao (chairman of Weibo) stated that he has not had such talks since the publication.