Cheetah Mobile Inc. (NYSE: CMCM) has reported all approvals required for quotation of shares of its subsidiary Moxiu Technology Co., Ltd. on the National Equities Exchange and Quotations System (NEEQ) have been obtained, the company said.
NEEQ is commonly known as the New Third Board of China, and is a unified national system that typically provides a trading platform for off-market transfers of non-listed public shares by subscribing members of the NEEQ. The company does not intend to effect any sale of its existing shares in, nor will there be any new shares to be issued by, Moxiu in connection with the quotation on the NEEQ.
Moxiu Technology is a limited liability company established in China on June 12, 2008. The Beijing-based company is mainly engaged in the development, research, and provision of mobile launchers, and monetizes its mobile traffic through online marketing services in China.
Cheetah Mobile Inc. is a mobile Internet company that provides applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide. Cheetah Mobile had approximately 651 million global mobile monthly active users in March 2016.