BEIJING (dpa-AFX) - Kingsoft Cloud Holdings (KC) announced the pricing of underwritten public offering of 18,500,000 of American depositary shares, each representing 15 ordinary shares, at a price of $11.27 per ADS or a total of 277,500,000 ordinary shares at a price of HK$5.83 per ordinary share. All ADSs will be offered by Kingsoft Cloud.
Concurrently, the companys existing shareholder, Kingsoft Corporation has agreed to purchase from the company 69,375,000 of its ordinary shares at a price per share equal to the Public Offering price per ordinary shares, in a concurrent private placement.
The gross proceeds to Kingsoft Cloud from the Public Offering and the Concurrent Private Placement are expected to be approximately $260.7 million.
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