Kingsoft Cloud Holdings Limited (KC), a cloud service provider in China, said on Tuesday that it has priced its upsized HK$2.802 billion share offering at HK$8.29 per share.
The company intends to use 80% of the net proceeds from the placing to grow its AI business, including improving infrastructure and cloud services, and 20% for working capital and other corporate needs.
Kingsoft Cloud expects to close the placing on or before October 2, 2025, with Morgan Stanley Asia Limited appointed as the placing agent.
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