Cheetah Mobile Files $300M IPO
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Cheetah Mobile, Inc., filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its American Depositary Shares. The proposed maximum offering price is $300 million. The company plans to list on the New York Stock Exchange.
The offering will be made via Morgan Stanley, JPMorgan,Credit Suisse, and Macquarie Capital.
Brief financial rundown:
Our revenues increased from RMB140.1 million in 2011 to RMB287.9 million in 2012, representing a 105.6% growth, and to RMB749.9 million (US$123.9 million) in 2013, representing a 160.5% growth. Our net income was RMB62.0 million (US$10.2 million) in 2013, a 530.0% increase over our net income of RMB9.8 million in 2012, compared to a net loss of RMB30.2 million in 2011.
Summary from the company:
Our mission is to make the internet and mobile experience faster, safer and easier for users worldwide. To achieve this mission, we have developed a platform that offers mission critical applications for our users and global content distribution channels for our business partners, both of which are powered by our proprietary cloud-based data analytics engines.
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