Kingsoft Cloud (KC) IPO Opens 20% Higher

Today's IPO for Kingsoft Cloud Holdings Limited (NASDAQ: KC) opened for trading at $20.37 after pricing its offering of 30,000,000 American depositary shares at US$17 per ADS.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 4,500,000 additional ADSs.

J.P. Morgan Securities LLC, UBS Securities LLC, Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited, are acting as joint book runners for the offering.

Kingsoft Cloud Holdings Limited is the largest independent cloud service provider in China. Kingsoft Cloud has built a comprehensive and reliable cloud platform consisting of extensive cloud infrastructure, cutting-edge cloud products and well-architected industry-specific solutions across public cloud, enterprise cloud and AIoT cloud services. As an independently operated company, Kingsoft Cloud is able to fully mobilize its resources towards the innovation of its business models and provide high-quality services to all kinds of businesses and organizations. With its focus squarely on its cloud business, Kingsoft Cloud is able to avoid potential conflicts of interest with its customers and enhance its neutral position, which in turn gains additional trust from more and more customers.

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