Kingsoft Cloud launched a public offering of 18,500,000 ADSs on Apr 16, 2025

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Apr 16, 2025, Kingsoft Cloud announced the start of an underwritten public offering of 18,500,000 American depositary shares (ADSs), each representing 15 ordinary shares, or 277,500,000 ordinary shares in all, and said investors could take ordinary shares traded in Hong Kong in place of ADSs. Kingsoft Corporation Limited, an existing shareholder, agreed to buy ordinary shares from the company at the offering price in a concurrent private placement, equal to 20% of the combined total of the offering’s firm shares and the placement shares (subject to certain adjustments) and conditional, among other things, on approval by independent shareholders and on completion of the offering. The company said it planned to use the net proceeds for infrastructure upgrades and expansion, technology and product development, and general corporate and working capital purposes. The announcement is attached to a Form 6-K, in which a foreign company reports to the US Securities and Exchange Commission what it has made public, filed on Apr 16, 2025.1^,2^,3^,4^,5^,6^,7^,8