Toro Investment Partners

[kevinh]

Those numbers don't look right. NQ has 57M ADRs outstanding. Altimeter's 1.9M shares ~4%, not 6.11%.

Here is what i see from Morningstar, showing them holding 7.6M ADRs:

http://investors.morningstar.com/ownersh....html?t=NQ

[Mountainbiker]

Does Toro actually own 7.6M ADRs or 7.6M common shares. 7.6M common shares does not put them at the 5% level while 7.6M ADRs does. And the 13-G filed shows them owning ADRs, not common shares, which would make their entire NQ position ~$100M. See below: http://archive.fast-edgar.com/20131112/A...-yNFG-q-1/ "American Depositary Shares each representing five Class A Ordinary Shares, par value $0.0001 per share (Title of Class of Securities)"

According to Bloomberg they own 1.518 million ADR's  4.88%

Other big holders:

Altimeter   1.899            6.11%

Oberweis 1.802             5.8%

Chinarock 1.711            5.5%

GSR Partners  1.437     4.63%

B of A 1.304                  4.31%

I just checked these numbes from Bloomberg as well. They are correct. Top 4 holders account for 22.29% or 6.9 million shares of the FLOAT ( not the total number of shares outstanding.)

[kevinh]

I know what Bloomberg says, I'm saying Bloomberg's numbers could be off regarding Toro's stake. Their 13-G suggests they hold 7.5M ADRs, not 7.5M common shares, which is also what morningstar indicates.

[RacerX]

I know what Bloomberg says, I'm saying Bloomberg's numbers could be off regarding Toro's stake. Their 13-G suggests they hold 7.5M ADRs, not 7.5M common shares, which is also what morningstar indicates.

Toro's 13G Filing: http://www.secinfo.com/d12TC3.x1Qm8.htm

They have 7,591,695 class A shares (which is equal to 1,518,339 ADR's) out of 151,833,654 total shares.

[kevinh]

I know what Bloomberg says, I'm saying Bloomberg's numbers could be off regarding Toro's stake. Their 13-G suggests they hold 7.5M ADRs, not 7.5M common shares, which is also what morningstar indicates.

Toro's 13G Filing: http://www.secinfo.com/d12TC3.x1Qm8.htm

They have 7,591,695 class A shares (which is equal to 1,518,339 ADR's) out of 151,833,654 total shares.

The document states:

Under the Securities Exchange Act of 1934

NQ Mobile Inc.

(Name of Issuer)

American Depositary Shares each representing five Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

(d)	Title of Class of Securities: American Depository Shares each representing five Class A Ordinary Shares, par value $0.0001 per Ordinary Shares (the “Securities”).

What am I missing here? The SEC doc states they own 7.6M ADRs.

[roxron9]

I know what Bloomberg says, I'm saying Bloomberg's numbers could be off regarding Toro's stake. Their 13-G suggests they hold 7.5M ADRs, not 7.5M common shares, which is also what morningstar indicates.

Toro's 13G Filing: http://www.secinfo.com/d12TC3.x1Qm8.htm

They have 7,591,695 class A shares (which is equal to 1,518,339 ADR's) out of 151,833,654 total shares.

The document states:

Under the Securities Exchange Act of 1934

NQ Mobile Inc.

(Name of Issuer)

American Depositary Shares each representing five Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

(d)	Title of Class of Securities: American Depository Shares each representing five Class A Ordinary Shares, par value $0.0001 per Ordinary Shares (the “Securities”).

What am I missing here? The SEC doc states they own 7.6M ADRs.

The document clearly shows they have voting rights of 7.6m shares, which essentially means they hold 7.6m class A shares, if it was 7.6 m ADS they would have voting power of 37 m shares. Also, as per the document page 4.

The ownership of Toro LP is presented below:

	(a)		Amount beneficially owned:  7,591,695
	(b)		Percent of class:  5.0%
	©		Number of shares as to which the person has:
			(i)	Sole power to vote or to direct the vote  7,591,695
			(ii)	Shared power to vote or to direct the vote  0.
			(iii)	Sole power to dispose or to direct the disposition of  7,591,695
			(iv)	Shared power to dispose or to direct the disposition of  0.