Cheetah Mobile Inc (ADR) (CMCM) IPO Off And Running

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Cheetah Mobile Inc (ADR) (CMCM) IPO Off And Running

Chinese security software firm Cheetah Mobile Inc (ADR) (NYSE:CMCM) went public today, and the new IPO is running strong like its namesake. Earlier this morning, the firm announced its offering of 12 million American depositary shares had been priced at $14 each, raising a total of $168 million.

Cheetah Mobile Inc (ADR) (NYSE:CMCM) shares took off at the open this morning, and ran as high at $15.68 before slipping back below $15 in later morning trading.

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The less than five-year-old company offers a range of security and optimization software for use in smartphones and PCs. The security firm’s Clean Master and Battery Doctor are well-regarded by IT experts and are e