Kingsoft Cloud Holdings Limited announced on April 16, 2025, the pricing of its underwritten public offering of 18,500,000 American depositary shares (ADSs) at US$11.27 per ADS. Concurrently, Kingsoft Corporation, an existing shareholder, agreed to purchase 69,375,000 ordinary shares in a private placement.
The gross proceeds from both the public offering and the concurrent private placement are expected to be approximately US$260.7 million, assuming no exercise of the underwriters' option for additional ADSs. The company plans to use these net proceeds for investments in upgrading and expanding infrastructure, technology and product development, and general corporate and working capital purposes.
This capital raise is a strategic move to fund Kingsoft Cloud's aggressive AI infrastructure expansion and enhance its cloud service capabilities. The participation of Kingsoft Corporation in the private placement underscores continued strategic alignment and support from a key ecosystem partner.
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