NQ Mobile Inc (ADR) (NYSE:NQ) Announces Convertible Notes Pricing

Posted by Lynn Eisler October 10, 2013 0 Comment 1206 views

NQ Mobile Inc (ADR) (NYSE:NQ) announced the pricing of its $150M in aggregate-principal amount of convertible senior-notes that are due in 2018.  Morgan Stanley & Co International & Deutsche Bank Securities Inc, the initial purchases have been granted a 30-day option to buy upto an additional $22.5 million principal-amount of notes.

Wednesday’s trading

In Wednesday’s trading, NQ Mobile Inc (ADR) (NYSE:NQ) dropped by 4.06%. The opening price of the shares was $20.07, which climbed to an intraday high of $20.12 and dipped to a close of $18.90. Approximately 6.03 million shares were traded on Wednesday while an average volume of 3.61 million shares were traded over a 30 day period. The 52-week low of NQ Mobile Inc (ADR) (NYSE:NQ) shares is $5.07 and its 52-week high is $24.10. The company has a market capitalization of $912.01 million.

About the company

NQ Mobile Inc (ADR) (NYSE:NQ) was previously NetQin Mobile Inc. It is a holding company and a provider of various mobile Internet services across the globe. It primarily focuses on privacy, security and productivity. It is a provider of Freemium subscription-services and has approximately 242M registered user-accounts in more than 150 countries.

Main segments

NQ Mobile Inc (ADR) (NYSE:NQ) focuses on serving its clients in 3 key sectors: 1) Mobile security- here, it provides mobile-security services to protect the users from different mobile malware threats, privacy intrusion and data theft. 2) Mobile productivity- These mobile productivity-services are designed to very intelligently enhance relationship and time management, and personalized intelligent-cloud services- Via this it provides personalized intelligent-cloud services, like NQ Space.

Users can access this via mobile Internet and through a range of Internet-enabled devices and offer a customized user experience. On 21 February 2012, Beijing NetQin Technology Co., Ltd set up a 100%-owned owned subsidiary, QingYun Financial Management Co, Ltd. On 2 December 2011, it established Taiwan NetQin Technology Limited in Taiwan.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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