Previously, the issue price range of Cheetah Mobile was set at $65,438+02.5-$65,438+04.5 per ADS, and the proposed maximum financing was $200,654.38+0 million, while the maximum financing scale of Cheetah Mobile's initial prospectus was $300 million, in contrast, the financing scale plummeted by 30%.
According to the previous financing scale of $300 million, the market value of Cheetah Mobile will reach 2.3 billion yuan.
Most of the reasons for this unfavorable situation are because the American trading market is undergoing a major adjustment. Due to the gradual withdrawal of the Federal Reserve from QE, the overall environment of US stocks is not good, and the stock prices of many star technologies have fallen. In the past March and April, the share prices of Tesla, Amazon and Facebook have fallen by nearly 20%. In recent days, China's concept stocks are even more sorrowful, and 16 shares have fallen by more than 5%. Investors will also finance Alibaba's IPO in the near future, and technology stocks are generally under pressure.
Despite this, Cheetah Mobile went public against the wind and did not choose to suspend this process.
Fu Sheng has such confidence, not only because Cheetah Mobile lowered its valuation to ensure the success of the listing, but also because Cheetah signed a share subscription agreement with Baidu, Jinshan, Xiaomi's investment company Xiaomi Venture Capital and Tencent's TCH, taking these four companies as cornerstone investors. TCH joined the subscription at the last minute to become the second largest shareholder of Cheetah, which also represents Tencent's confidence in the future growth of Cheetah. After that, cheetah's share price opened higher and higher since the opening, which surprised the cheetah team executives.
In such a changing market, Cheetah Mobile has been oversubscribed for many times, and has been recognized and invested by outstanding long-term funds and equity funds around the world. Strike while the iron is hot, and be firm. As long as the business is done, the story is a process of continuous progress in the long run. At this point in time, this is only the first step.
Cheetah cleaning master knocks on the opening brick of IPO door;
20 12 September, Cheetah Mobile released the mobile strategic application-Cheetah Cleaning Master. Cheetah Cleanup Master can clean up garbage and speed up mobile phones, manage software and protect the privacy of mobile phones. Such a product with simple function has become the most aggressive product after the launch of Cheetah Mobile.