Cheetah Mobile defies tech slump to price $168m IPO

By Rev Hui
08 May 2014

China’s second largest internet security software provider, Cheetah Mobile, managed to overcome the poor secondary market performances of some of its peers by pricing a $168m New York IPO near the top of its guidance on May 8.

Final pricing came at $14 for the sale of 12m American Depositary Shares (ADSs), which was close to the top of the $12.00-$14.50 indicative price range that joint bookrunners Credit Suisse, JP Morgan and Morgan Stanley pitched to investors during bookbuilding.

The deal was said to be multiple ...

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