UPDATE 1-NetQin Mobile files for $100 mln IPO
* To list ADSs on NYSE under symbol 'NQ'
* To use proceeds for investments in technology, infrastructure and research (Follows alerts)
March 15 (Reuters) - China's NetQin Mobile Inc filed with U.S. regulators on Tuesday to raise up to $100 million in an initial public offering of American Depositary Shares (ADSs).
The software-as-a-service, or SaaS, provider told the U.S. Securities and Exchange Commission in a preliminary prospectus that Piper Jaffray & Co is underwriting the IPO.
The provider of mobile security products said it would use the proceeds from the IPO for investments in technology, infrastructure, research and development activities, along with expansion of its sales and marketing efforts.
The filing did not reveal how many ADSs the company planned to sell or their expected price.
The company said it expects its ADSs to trade on the New York Stock Exchange under the symbol "NQ."
NetQin's IPO would come on the heels of a rush of similar Chinese Internet companies, such as Qihoo 360 , online video company Youku.com and Internet retailer Dangdang .
Although not all Chinese web companies have offered attractive financials as they listed on U.S. exchanges, many of them saw shares soar in their debut as investors clamor to tap into the fast-growing market. (Reporting by Aditi Sharma; Editing by Maju Samuel) (firstname.lastname@example.org)(within U.S. +1 646 223 8780)(outside U.S. +91 80 4135 5800)(Reuters Messaging: email@example.com))
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