Market Overview

Chinese Investor Boosts NQ Mobile Stake To 16.7 Percent


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.

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