NQ sold a 3.4% stake in the wholly-owned affiliate to venture capitalist firm Beijing Guoron Qilian for $18 million. The deal gives NationSky a pre-money valuation of $500 million. NQ will sell up to a 2.3% stake in NationSky to other investors for $12 million within the next two months.
Investors are still waiting for NQ Mobile to release file its 2013 annual report, according to The Motley Fool. The company announced on May 15 that it needed more time to finish the report, and has not yet filed it.
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TheStreet Ratings team rates NQ MOBILE INC -ADR as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NQ MOBILE INC -ADR (NQ) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share."