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NQ Mobile Inc Skyrockets 37% On Sale Of FL Mobile Unit

NQ Mobile shares rallied 36.96% to $4.15 in early trading Thursday after the company announced two deals that would help strengthen its cash position. The troubled Chinese mobile security firm said it was selling its online game publishing unit FL Mobile to Tsinghua Holdings Co's investment arm. The deal is valued at a minimum 4 billion yuan or at least $626 million.

FL Mobile was the key driver of NQ's gaming revenue

However, the final sale price will be decided by an independent valuer, said NQ Mobile. The Beijing-based company had previously negotiated a deal to sell FL Mobile to Tack Fiori International for between $570 million and $630 million. NQ Mobile said...


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