Market Overview

Chinese Investor Boosts NQ Mobile Stake To 16.7 Percent

Related NQ
Earnings Scheduled For November 30, 2016
Mid-Afternoon Market Update: Children's Place Rises On Strong Q3 Results; DryShips Shares Tumble
NQ Mobile's (NQ) CEO Zemin Xu on Q3 2016 Results - Earnings Call Transcript (Seeking Alpha)

NQ Mobile (NYSE: NQ) shares were gaining Monday after a Chinese investor increased its stake in the company to 16.7 percent from 10.9 percent.

The acquisition was disclosed Friday in a filing by Hon Kong-based ChinaRock Capital Management.

ChinaRock said it doesn't plan to change or influence the control of NQ Mobile.

Beijing investment firm Bison Capital last month offered to buy NQ Mobile for $9.80 per share. An internal company investigation earlier this year found no evidence of fraud alleged by short sellers, but NQ has yet to file an audited 2013 annual report.

NQ traded recently at $6.64, up 3.1 percent.

Posted-In: News Events Hot Intraday Update


Related Articles (NQ)

View Comments and Join the Discussion!