Cheetah Mobile gains following IPO

After pricing its 12M-share IPO at $14 (within a range of $12.50-$14.50), Cheetah Mobile (CMCM) opened at $15.25 and is now at $16.25, up 16%.

The Chinese mobile app/browser developer and Kingsoft (KSFTF) subsidiary sports a market cap of $2.25B, or 18x 2013 sales.

Prospectus, IPO preview, analysis

Previous: Cheetah's 2013 results/product details

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