May 8 (Reuters) - China-based Cheetah Mobile Inc’s initial public offering raised about $168 million after its shares were priced at $14, near the top end of the expected price range.
The company sold 12 million American Depositary Shares (ADSs), which were expected to be priced between $12.50 and $14.50 per ADS.
Shares of Cheetah are expected to start trading later on Thursday on the New York Stock Exchange under the symbol “CMCM”.
Beijing-based Cheetah provides security and optimization software used both in smartphones and PCs. The company is being spun-out of software maker Kingsoft Corp Ltd.
Morgan Stanley, JPMorgan and Credit Suisse were among the underwriters for the IPO. (Reporting by Avik Das in Bangalore; Editing by Sriraj Kalluvila)