Davis Polk advised Morgan Stanley & Co. International plc and J.P. Morgan Securities LLC as representatives of the underwriters of an offering by Cheetah Mobile Inc. (Cheetah) of 12,000,000 American Depositary Shares, each representing ten Class A ordinary shares of Cheetah, for a total proceeds of US$168 million. The company has granted the underwriters an option to purchase up to an additional 1,800,000 ADSs. The ADSs are listed on the NYSE under the symbol “CMCM.” 

Cheetah Mobile is a leading mobile Internet company with approximately 362 million monthly active users in March 2014. Its mission critical applications, including Clean Master, CM Security, Battery Doctor and Duba Anti-virus, help make the Internet and mobile experience speedier, simpler and safer for users worldwide. Cheetah Mobile is the second-largest Internet security applications provider in China by monthly active users in March 2014, according to iUser Tracker of iResearch, and the publisher of Clean Master, the #1 mobile app in the Google Play Tools category worldwide by monthly downloads in March 2014, according to App Annie. The company also provides various platform products such as Duba.com, Cheetah browser, game centers and mobile app stores to provide multiple-user traffic entry points and global content distribution channels for its business partners. 

The Davis Polk team included partners James C. Lin, Bonnie Y. Chan and Li He, associate Liang (Alex) Tao and registered foreign lawyers Han (Annie) Shen and Bo Huang. Partner John D. Paton and associate Omer Harel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Beijing, Hong Kong, London, and New York offices.