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0 0 0.00654761904761901 -0.00297619047619052 -0.0244047619047619 -0.0321428571428571 -0.0505952380952381 -0.0625
Stock impact report

Kingsoft Cloud Announces Proposed Offering of New Shares [Yahoo! Finance]

Kingsoft Cloud Holdings Limited - American Depositary Shares (KC) 
Company Research Source: Yahoo! Finance
leading cloud service provider in China, today announced that it proposes to offer ordinary shares of the Company (the " Placing Shares") in offshore transactions outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), subject to market conditions and other factors (the " Placing Morgan Stanley Asia Limited has been appointed as the placing agent. The Company currently plans to use the net proceeds from the Placing (the " Placing Proceeds ") by December 31, 2028 in the following manners: (i) 80% of the Placing Proceeds to support our AI business, including expand infrastructure and enhance cloud service capabilities, and (ii) 20% of the Placing Proceeds to replenish working capital and other corporate purposes. The Placing Shares have not been and will not be registered under the Securities Act or any state securities laws or be registered in Hong Kong or elsewhere. They may not be offered or Show less Read more
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