Cold snap hit, baidu millet in convoy cheetah mobile IPO

(word/qing nan)

with the cheetah move (the former golden hill network) offerings traded time getting closer, and capital markets began to emerge “cold current”, the technology stocks falling in as many days, that feared the cheetah mobile market prospects slightly.

today, kingsoft released in the Hong Kong stock exchange announcement, said has joint baidu, millet and cheetah mobile signed the share subscription agreement on April 25, according to initial public offerings in cheetah move at the same time, three companies will jointly subscribed shares up to $50 million. Thus as a cornerstone for the cheetah move us listings “escort”.

the kingsoft supreme subscription of $10 million, baidu highest subscription of $20 million, millet investment (Xiaomi Ventures) subscribe for up to $20 million.

cheetah move as China’s second-largest Internet security company, market share after qihoo 360, has become an important force in the domestic market in the latter, which has become the domestic security market “beacon”.

before this, tencent as early as a few years ago has a stake in the cheetah mobile (name of golden hill network) at the time, date, still hold about 10% of the company. Lei jun is particularly close relationship with Fu Cheng, support and take a stake in the cheetahs are understandable, and work with the help of the latter to new foreign market. Interestingly, the final baidu in joint highlights the company’s strategy, mutual defense.

what’s interesting is that in the cheetah move, according to the latest documents submitted on Friday will be the highest scale of financing by narrowed to $200.1 million, $300 million before it may be to cope with cold current response of stock market. This time with baidu, millet investment into the cornerstone, cheetah IPO performance is yet to be announced.