[ET Net News Agency, 28 January 2014] Kingsoft Corporation (03888) said it submitted a
spin-off application to the Stock Exchange on 20 December 2013 for the spin-off listing of
its information security software business on the NASDAQ Global Market or the New York
Stock Exchange.
The information security software business is currently carried on by Kingsoft Internet
Software Holdings Limited (KIS), which is held 54.09% by Kingsoft. KIS is principally
engaged in the research, development and operation of information security software,
internet browser, mission critical mobile applications, and the provision of online
advertising services and internet value-added services across devices.
Kingsoft and KIS are currently proposing to adopt a dual-class share capital structure
for KIS, with investors in the initial public offering of KIS acquiring a class of
ordinary shares that carries a lower vote per share and Kingsoft and other existing
shareholders holding a class of ordinary shares that carries a higher vote per share.
(HL)
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IPO News
28/01/2014 09:48
Kingsoft to spin off information security software business