Credit: Shutterstock photoCheetah Mobile, a Chinese mobile security app developer, announced terms for its IPO on Friday. The Beijing, China-based company plans to raise $162 million by offering 12.0 million shares at a price range of $12.50 to $14.50. At the midpoint of the proposed range, it would command a market value of $1.9 billion.
Cheetah Mobile, which was founded in 2009 as a subsidiary of Kingsoft and booked $124 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol CMCM. It initially filed confidentially on January 27, 2014. Morgan Stanley, J.P. Morgan and Credit Suisse are the joint bookrunners on the deal.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
