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+--- Thread: Update on Cheetah IPO (/showthread.php?tid=6604)
Update on Cheetah IPO - Bondguy8 - 05-06-2014
Has anyone received an update on the Cheetah IPO? Timing, pricing, sizing etc...
RE: Update on Cheetah IPO - harry2013 - 05-06-2014
http://www.fool.com/investing/general/2014/05/05/3-new-issues-ipo-investors-need-to-know-about-for.aspx
Twelve million American depositary shares of Cheetah Mobile will hit the market on Thursday, priced at $12.50 to $14.50 apiece. They will trade on the New York Stock Exchange under the ticker symbol CMCM.
RE: Update on Cheetah IPO - js253 - 05-07-2014
Cheetah updated its F1 yesterday, still citing that $12.50-$14.50 price range. This late in the game, the underwriting syndicate should have finished building their book and know exactly what(quantity/price) the aggregate demand is. If the IPO does go ahead on Thurs., even at $12.5/share the deep discount for NQ is all the more apparent.
Cheetah also updated its Q1 financial
Revenues. Our total revenues for the three months ended March 31, 2014 were RMB315.7 million (US$50.8 million). Our total revenues for the three months ended March 31, 2014 comprised revenues from online marketing services of RMB232.2 million (US$37.4 million), revenues from IVAS of RMB71.8 million (US$11.6 million) and revenues from internet security services and others of RMB11.7 million (US$1.8 million). Our mobile revenues as a percentage of our total revenues for the three months ended March 31, 2014 were 17%.
Gross profit. Our gross profit for the three months ended March 31, 2014 was RMB245.3 million (US$39.5 million). Operating profit. Our operating profit for the three months ended March 31, 2014 was RMB19.2 million (US$3.1 million). Our operating profit for the three months ended March 31, 2014 reflects share-based compensation expenses of RMB14.1 million (US$2.3 million).
Net income. Our net income for the three months ended March 31, 2014 was RMB18.7 million (US$3.0 million). Our net income for the three months ended March 31, 2014 reflects share-based compensation expenses of RMB14.1 million (US$2.3 million).
NQ's Q1 projected revenue is about 50% higher, what also stands out is of course the SBC issue.
RE: Update on Cheetah IPO - js253 - 05-07-2014
Oh, and I just noticed the part about mobile revenue being only 17% of total revenue as of 3/31/14. Not sure why they call themselves Cheetah Mobile as opposed to Cheetah, a lil' bit Mobile.
This gets a $1.8 bil valuation?
RE: Update on Cheetah IPO - js253 - 05-08-2014
Priced at $14, $2 bil mkt. cap, listing today.
RE: Update on Cheetah IPO - js253 - 05-08-2014
Trading at $15.6/shr, 3X the mkt. cap of NQ, with 2/3 of the rev. base.
RE: Update on Cheetah IPO - harry2013 - 05-08-2014
Ticker CMCM. Opened today at 15.25.