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