(Reuters) - Qiao Xing Mobile said in a registration statement with the U.S. Securities and Exchange Commission that it expected to receive $133.9 million in net proceeds from the IPO. It plans to use the proceeds to repay shareholder loans; make loans or capital contributions to CEC Telecom Co. Ltd., its 93.4 percent-owned subsidiary; and for general corporate purposes.
Qiao Xing Mobile plans to sell 12.5 million shares, and stockholders plan to sell an additional 4.2 million, the filing said.
Read more at Reuters.com Government Filings News
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