Sina embroiled in proxy fight as US investor pushes for change

Hong Kong

THE Chinese Internet boom has been good to Sina. Maybe, protests one of its US investors, it could have been better.

The New York-traded shares of Sina, whose Weibo service is one of China's most popular social media platforms, have been on a tear. They have been lifted by the same surge that has put Chinese companies such as the Alibaba Group and Tencent Holdings among the ranks of Amazon and Facebook in terms of stock market value.

Still, Sina finds itself embroiled in an unusual situation for a company with a surging stock price: a proxy fight.

Aristeia Capital, a hedge fund based in Connecticut, is lobbying …