Brief: Kingsoft Corp Updates On Proposed Spin-Off And Separate Listing Of Kingsoft Cloud

Kingsoft

04/05/2020 16:27

May 4 (Reuters) - Kingsoft Corp Ltd  3888.HK :
    * UPDATES ON PROPOSED SPIN-OFF AND SEPARATE LISTING OF
KINGSOFT
CLOUD
    * KINGSOFT CLOUD MADE PUBLIC FILING OF RED HERRING
PROSPECTUS TO
SEC ON 4 MAY
    * KINGSOFT CLOUD OFFERING IS EXPECTED TO CONSIST OF AN
INITIAL
OFFERING OF 25 MILLION ADSS
    * CO & XIAOMI INDICATED INTEREST IN BUYING UP TO US$25
MILLION &
US$50 MILLION, RESPECTIVELY, OF ADSS BEING OFFERED IN KINGSOFT
CLOUD OFFERING
    * CO & XIAOMI INDICATED INTEREST IN PURCHASING UP TO US$25
MILLION
& US$50 MILLION, RESPECTIVELY, OF ADS OFFERED IN KINGSOFT CLOUD
AT INITIAL OFFER PRICE
    * INITIAL OFFER PRICE OF EACH ADS EXPECTED TO BE BETWEEN
US$16 &
US$18
    * CARMIGNAC GESTION & AFFILIATES INDICATED INTEREST IN
BUYING, IN
AGGREGATE, UP TO US$50 MILLION OF ADSS OFFERED IN KINGSOFT CLOUD
    * AT CURRENT PRICE RANGE, ASSUMES MARKET CAPITALISATION OF
KINGSOFT CLOUD WILL BE BETWEEN ABOUT US$4.00 BILLION & US$4.50
BILLION

Source text for Eikon:  ID:nHKSbktZqD 
Further company coverage:  3888.HK 

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