Kingsoft Cloud Completes Share Subscription to Boost Infrastructure and Technology

Kingsoft Cloud Holdings Ltd ( (HK:3896) ) has provided an update.

Kingsoft Cloud Holdings Ltd has completed a connected transaction involving the subscription of new shares under a specific mandate. The company issued 69,375,000 new shares to Kingsoft Corporation at a price of HK$5.83 per share, raising approximately HK$404.46 million. The proceeds will be used for infrastructure upgrades, technology development, and general corporate purposes. This transaction slightly increases Kingsoft Corporation’s shareholding in Kingsoft Cloud, enhancing its control over the company.

The most recent analyst rating on (HK:3896) stock is a Buy with a HK$10.00 price target. To see the full list of analyst forecasts on Kingsoft Cloud Holdings Ltd stock, see the HK:3896 Stock Forecast page.

More about Kingsoft Cloud Holdings Ltd

Kingsoft Cloud Holdings Ltd is a leading provider in the cloud computing industry, offering infrastructure and technology services. It focuses on upgrading and expanding its infrastructure and investing in technology and product development.

Average Trading Volume: 105,468,123

Technical Sentiment Signal: Buy

Current Market Cap: HK$27.96B

Learn more about 3896 stock on TipRanks’ Stock Analysis page.