[ET Net News Agency, 11 October 2017] Kingsoft (03888) said its subsidiary Kingsoft
Cloud agreed to issue an aggregate of 236 million Series D preferred shares and each of
Kingsoft and New Cloud Ltd. agreed to subscribe for 118 million Series D preferred shares
for a respective consideration of US$100 million (equivalent to about HK$780.38 million)
respectively.
Upon completion, Kingsoft Cloud will be owned as to about 51.93% by Kingsoft, 5.26% by
New Cloud Ltd. and 2.63% by Liyue investor, and the shareholding of Kingsoft in Kingsoft
Cloud will decrease from 52.29% to 51.93%.
Kingsoft Cloud Group is principally engaged in the research, development and provision
of cloud technology and services. New Cloud Ltd. is an investment fund management platform
which focuses on investment in PRC enterprises. China Minsheng Trust designated New Cloud
as the offshore subscriber. (HL)
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11/10/2017 16:54
Kingsoft (03888) cloud unit to issue 236m preferred shares
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