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Cheetah Mobile files IPO

(Credit: VCPost) The image shows the logo of Cheetah Mobile Inc. on the screen of an HTC smartphone.Cheetah Mobile Inc.
April 3
8:10 AM 2014
by Staff Reporter

Cheetah Mobile Inc. is a security software manufacturer. The company is a unit of Kingsoft Corp Ltd. Cheetah Mobile filed an initial public offering with the US regulators on Wednesday. The security software maker has planned to get around USD300 million of American Depository Shares through the IPO, said a report from Reuters.

Cheetah, a Beijing based company, said on its preliminary prospectus that it has appointed Morgan Stanley, Macquarie Capital, Credit Suisse and JP Morgan to be the underwriters for the deal. Cheetah was formerly Kingsoft Internet Software Holdings Ltd, said a report from Reuters.

The filing with the US Securities and Exchange Commission did not disclose the price of the offering or the number of shares Cheetah intends to sell.

In January, Kingsoft Corp applied to the Hong Kong bourse for a permission to sell its security software arm. Kingsoft Corp has 54% controlling stake in Cheetah. The company has proposed to retain control of Cheetah while consolidating the financial results of its division through the IPO.

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