1 October, 2020
Davis Polk advised Kingsoft Cloud Holdings Limited and certain selling shareholders on its approximately $509 million SEC-registered follow-on public offering of 16,421,576 American depositary shares, consisting of 8,000,000 ADSs offered by Kingsoft Cloud and 8,421,576 ADSs offered by the selling shareholders. Each ADS represents 15 ordinary shares of Kingsoft Cloud. Kingsoft Cloud has granted the underwriters a 30-day option to purchase up to an additional 2,463,240 ADSs. The ADSs are listed on the Nasdaq Global Select Market under the symbol “KC”.
Kingsoft Cloud is a leading independent cloud service provider in China. Kingsoft Cloud has built a comprehensive and reliable cloud platform consisting of extensive cloud infrastructure, cutting-edge cloud products and well-architected industry-specific solutions across public cloud, enterprise cloud and AIoT cloud services.
The Davis Polk corporate team included partners Li He and James C. Lin and counsel – registered foreign lawyer Ran Li. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.
