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KINGSOFT CLOUD Once Dives 11%+, Planning to Raise HKD2.76B Net Through 8.8% Discounted Placement
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KINGSOFT CLOUD (03896.HK) opened 5.4% lower today (24th) at HKD8.6 and once plunged by 11.3% to HKD8.06 in early trading. It last traded at HKD8.38, down 7.8%, with a volume of 48.07 million shares, involving HKD401 million.

The company has announced a placement of 338 million shares (7.46% of the enlarged share capital) at HKD8.29 per share, an 8.8% discount to yesterday's (23rd) closing price of HKD9.09.

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The placement is intended to raise HKD2.802 billion, with net proceeds of HKD2.76 billion.
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