Kingsoft Cloud to Issue 8 Million Additional Shares
Kingsoft Cloud (KC:NASDAQ) announced to issue 8 million additional American ADS. 90% of the proceeds collected from the additional shares will fund the cloud infrastructures and product R&D process.
Kingsoft Cloud is controlled by Kingsoft (03888:HK). Kingsoft is one of the oldest and largest software providers in China. Kingsoft spun off three public companies Kingsoft Office(688111:SH), Cheetah Mobile (CMCM：NYSE) and Kingsoft Cloud.
This text is a result of machine translation.
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