Kingsoft Cloud priced an offering of 18,500,000 ADSs at US$11.27 each 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 priced its underwritten public offering of 18,500,000 American depositary shares (ADSs) at US$11.27 per ADS, which it stated as HK$5.83 per ordinary share at an exchange rate of HK$7.7574 to US$1.00, with investors able to take ordinary shares traded in Hong Kong in place of ADSs. Kingsoft Corporation Limited, an existing shareholder, agreed to buy 69,375,000 ordinary shares from the company at the offering price in a concurrent private placement, which was subject to, among other conditions, approval by independent shareholders and completion of the offering. The company expected gross proceeds of approximately US$260.7 million from the offering and the placement, before underwriting discounts and offering expenses and assuming the underwriters did not use their 30-day option to buy up to 2,775,000 more ADSs. 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