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Qihoo 360 Technology Co. Ltd. Message Board

  • italiatlt italiatlt Oct 31, 2013 8:35 AM Flag

    NQ Being Treated as an Isolated case - good for QIHU. Read below...

    seeking alpha - The bottom line in all this is that investors appear willing to treat NQ Mobile's woes as an isolated case, which should be good for an upcoming pipeline of IPOs by Chinese tech firms in New York. Such an outcome isn't too surprising, as NQ was among a group of firms that went public just before a series of accounting scandals that began more than 2 years ago. Oversight by both the securities regulator and private underwriters has become much tougher since then, meaning investors can be more confident that financial statements are more reliable from this upcoming group of IPO candidates.

    All that said, let's take a look at the latest report that says Qunar, which is majority owned by online search leader Baidu (Nasdaq: BIDU), has raised the price range for its upcoming IPO to $12-$14 per American Depositary Share (ADS) (English article). The company had previously set a range of $9.50 to $11.50 in a public filing 2 weeks ago. Qunar will issue 11.1 million ADSs, meaning it could now raise up to $155 million, quite a bit higher than the $128 million it previously forecast.

    Sentiment: Strong Buy

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    • RIGHT. As i said last week Muddy is so up to his ears now in NQ, that it should keep him well preoccupied for a long time. I also think that this kind of short manipulation in ADR's will have reached a turning point. He #$%$ off A LOT of big wigs. NQ for the most part is off the table.

      Sentiment: Strong Buy

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