Kingsoft Corporation (3888) said its American depositary receipts will be listed in the Nasdaq stock market today, setting the initial public offer price at US$17 (HK$131.75) apiece. A total of 30 million ADSs will be issued and sold, representing 13.9 percent of the issued share capital of Kingsoft Cloud following the offering, before any exercise of the over-allotment option, said the company. Each ADS will represent 15 Kingsoft Cloud shares. Meanwhile, the underwriters to Kingsoft Cloud have an option to purchase up to an additional 4.5 million ADSs pursuant to the over-allotment option, solely to cover over-allotments in the sale of the ADSs, said the company. Assuming full exercise of the over-allotment option, the total number of ADSs to be sold under offering will represent 15.6 percent of the issued share capital of Kingsoft Cloud.

Source: The Standard May 08, 2020 06:22 UTC