Kingsoft Cloud Holdings: Slides on equity offering

Kingsoft Cloud Holdings

22/09/2020 11:05

** U.S.-listed shares of Chinese cloud services provider
 KC.O  fall ~4% to $35.43 premarket 
    ** Co announces follow-on offering of its American
Depositary Shares (ADSs), does not disclose pricing details
    ** KC to offer 8 mln shares, stockholders to sell additional
~9.7 mln shares  urn:newsml:reuters.com:*:nGNX9ZFllC
    ** Co says each ADS represents 15 ordinary shares of KC
    ** Co plans to use net proceeds for upgrading and expanding
its infrastructure, investment in technology and product
development, among others 
    ** Will not receive any proceeds from sale of ADSs by
selling shareholders - KC
    ** Stock, which went public in May, has more than doubled
from its IPO price of $16

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))