Kingsoft Cloud Holdings Ltd., a leading provider of cloud services, has announced the completion of a connected transaction involving the subscription of new shares under a specific mandate. The transaction, which saw Kingsoft Corporation, its controlling shareholder, subscribing to 69,375,000 new shares at a price of HK$5.83 per share, aims to fuel further expansion and technological advancements. The proceeds, totaling approximately HK$404.46 million (US$52.14 million), are earmarked for investments in upgrading infrastructure and enhancing service capabilities. This strategic move is expected to bolster Kingsoft Cloud's market position and support its long-term growth objectives.
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