Matrix-Backed Cheetah Mobile Files For $300M IPO

Beijing-based Chinese security software maker Cheetah Mobile Inc. has filed with the U.S. securities regulator to raise as much as US$300 million in an initial public offering on the New York Stock Exchange.

Specific pricing terms have not been determined.

Cheetah Mobile, formerly known as Kingsoft Internet Software Holdings Limited, initially filed its F-1 form with the U.S. Securities and Regulatory Commission on April 2. It filed an amended version on April 22.

Matrix Partner China owns 6.3% of the company. Other major stockholders include Kingsoft Corporation Ltd. and Tencent Holdings Limited, each owning 54.1% and 18% respectively, according to the filing.

Cheetah Mobile is the number two Internet security software provider in China, with 341 million total monthly active users, says the filing.

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