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Chinese Cloud Firm Kingsoft To Sell 282M Shares, Channel 80% Of Proceeds Into AI Growth

Benzinga·09/23/2025 09:22:45
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Kingsoft Cloud Holdings Limited ("Kingsoft Cloud" or the "Company") (NASDAQ:KC), a leading cloud service provider in China, today announced that it proposes to offer 282,000,000 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.