Cheetah Mobile, the spinoff of Chinese software developer Kingsoft that filed for IPO this April, today announced it planned to raise approximately $168 million funding by offering 12,000,000 American depositary shares (ADS) at $14.00 apiece, with each ADS representing ten Class A ordinary shares of the company.

Calculated at this initial offering price, the market valuation of Cheetah Mobile’s 138 million ADS shares is expected to reach $1.932 billion after the IPO. Kingsoft’s share in the company will be diluted from 54.1% to 48.6%.

 [Update] The ADSs started 8.9% higher at $15.24 apiece on New York Stock Exchange on May 8. The company’s share edged up 0.71% to close at $14.01 per share on the same day.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.