KINGSOFT CLOUD (03896) plans to issue 18.5 million American depositary shares.

KINGSOFT CLOUD (03896) announced that on April 16, 2025 (Eastern Time)/April 16, 2025 (Beijing and Hong Kong Time) it will initiate a proposed sale of 18.5 million American Depositary Shares (ADS) representing 15 ordinary shares of the company with a par value of $0.001 per share, totaling 2.775 billion ordinary shares (the related shares) for underwriting; and its controlling shareholder, KINGSOFT Limited (KINGSOFT, or the "subscriber"), has agreed to purchase a certain number of the company's ordinary shares (subscribed shares) at a price equal to the offering price per share. The company plans to use the net proceeds from the proposed sale and subscription for investment in upgrading and expanding infrastructure, investment in technology and product development, and general corporate and operating purposes.