China’s cloud services provider Kingsoft Cloud Holdings Ltd. shares rose 40% on Friday in the first major trading on the NASDAQ stock exchange.
Kingsoft Cloud filed an IPO prospectus update with the US Securities and Exchange Commission (SEC) showing that the company will issue 25 million American depositary shares.
Kingsoft Cloud plans to list on NASDAQ under the ticker KC. JPMorgan Chase, UBS, Credit Suisse and CICC will act as joint lead underwriters for Kingsoft Cloud's IPO.
On December 22, Chinese software developer Kingsoft issued a proposal for a spin-off and independent listing announcement, regarding its sub-branch Kingsoft Cloud.
“Under the crush of Microsoft and piracies, Kingsoft software was indeed leading a very hard life. What put us through those times is that we still firmly believe that a good national software company has big opportunities."
On November 18, Kingsoft Office, the Chinese software provider, officially listed on Shanghai’s STAR market, under the ticker symbol 688111.
After more than five months of preparations, Beijing Kingsoft Office Software (Kingsoft Office) finally filed for IPO on the science and technology board.
He Xiaopeng, chairman of the Chinese electric vehicle startup Xpeng Motors, welcomed a visit from top Chinese tech leaders to the auto maker's new headquarters in Guangzhou on July 18.