Cheetah Mobile Update Prospectus for the second time

Absrtact: Two days ago, the cheetah moved the second update of the prospectus, reducing the top financing scale from 300 million U.S. dollars to 1/3 to $200.1 million. Cheetah Mobile IPO will issue 12 million U.S. Depository shares (ADS) and will grant underwriters 1.8 million ads

Two days ago, the cheetah moved a second update of the prospectus, reducing the top financing scale from 300 million U.S. dollars to $1/3, to $200.1 million. The cheetah's mobile IPO will issue 12 million U.S. Depository shares (ADS) and will give underwriters 1.8 million copies of ads over placements.

According to the Golden Hill software submitted to HKEx today, by its security business spin-off from The Cheetah Mobile has with Kingsoft software, Baidu, Millet signed IPO shares subscription agreement. The specific subscription amount is as follows: Kingsoft Software will subscribe to the maximum of 10 million U.S. dollars in a shares (a share of the equivalent of 1/10 ads), Baidu will subscribe to a maximum of 20 million U.S. dollar A shares, Millet will subscribe to a maximum of 20 million US dollar A shares. After the IPO, Jinshan Software's shareholding ratio will be from the current 54.1% diluted to 47.86%.

Baidu this repeatedly injected into the cheetah Mobile, the equivalent of building a moat in the security field, continue to intercept 360, quite a few "enemy competitors are friends" means. Baidu officially launched last December, "Baidu Mobile Guardian", High-profile march into the field of mobile security, in addition, Baidu is also pushing computer security guards and Baidu antivirus software, in the security field covers 360 of the product.

As the chairman of Jinshan Software Lei Investment Cheetah Mobile is not surprising. Millet will aggressively promote internationalization this year, following the February landing in Singapore, will continue to land in Malaysia, Indonesia, Thailand, the Philippines, India, Brazil, Mexico and other countries, in mobile security or can move with the cheetah Synergy. According to Cheetah Mobile released the latest data, the Cheetah Mobile all its applications in February this year, the number of live users up to 341 million, of which live overseas users about 214 million, accounting for up to 63%.

With the help of Baidu, MIUI Mobile distribution capacity, the wall outside the flower of the cheetah Mobile may also have to return to the former opponents 3,601 of the attempt to compete. Get the endorsement of Baidu, millet, Cheetah Mobile or also to enhance investor confidence for its next listing in the United States paving the road.

In the bulletin released today by Kingsoft Software, it also unveiled the specific uses of the Cheetah Mobile IPO: about $50 million trillion will be used to increase penetration in selected international markets, and about $35 million will be used to expand and strengthen its sales and marketing prowess; about 35 million dollars will be invested in technology, infrastructure and research and development capabilities The remaining funds will be used for other general business purposes, including operations, potential acquisitions, etc.

According to the 12.5~14.5 Dollar/stock price range, the Cheetah mobile market capitalisation will be between 1.8 billion and 2.1 billion dollars after the IPO reaches its expected size. The cheetah moves and underwriters such as Morgan Stanley, JPMorgan Chase and Credit Suisse are expected to finalize their IPO pricing and establish an underwriting agreement around May 7 this year.