KINGSOFT CLOUD (KC.US) publicly issued 18,500,000 shares of ADS, obtaining continuous increase in holdings from strategic shareholders.

On April 16, KINGSOFT CLOUD (KC.US, 03896) announced that it will publicly issue 18,500,000 American Depositary Shares (ADS), with each ADS representing 15 ordinary shares of the company. KINGSOFT CLOUD has granted the ADS underwriters a 30-day option to purchase additional American Depositary Shares. To facilitate the subscription of investors in both Hong Kong and the US stock markets, investors can choose to trade ordinary shares instead of ADS on the Hong Kong Stock Exchange in this offering. This financing has received support from strategic shareholders. In addition to the above-mentioned number of shares issued, KINGSOFT Group will subscribe for an additional 20% of the total issuance size (public offering portion + KINGSOFT Group subscription portion). The announcement indicates that the proceeds from this ADS offering will be used by KINGSOFT CLOUD to invest in upgrading and expanding infrastructure, investing in technology and product development, and for general corporate and operational purposes.