Cheetah Mobile sets IPO price range of $12.50-$14.50

Cheetah Mobile is looking to raise $150M-$174M by selling 12M shares under the symbol CMCM. Its price range spells a valuation range of $1.73B-$2.00B for the Chinese security/utility/browser app developer and Qihoo rival, or 15x trailing sales at the midpoint.

Parent Kingsoft (KSFTF) will have a 53.5% post-IPO voting stake.

The recent selloff in Chinese Internet stocks (and tech momentum plays in general) is likely to affect Cheetah's post-IPO valuation. Weibo and Leju both turned in strong debuts 11 days ago with the help of conservative pricing.


Previous: Cheetah Mobile files for IPO

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