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The latest announcement is out from Kingsoft Cloud Holdings Ltd ( (HK:3896) ).
Kingsoft Cloud Holdings Ltd has announced a placement of 338,000,000 new shares under a general mandate, representing approximately 8.06% of the existing issued shares. The shares are priced at HK$8.29 each, reflecting a discount to recent market prices. The proceeds from this placement are intended to support the company’s AI business expansion and enhance its cloud service capabilities, with 80% allocated to these efforts and the remaining 20% for working capital and other corporate purposes. This strategic move is expected to bolster Kingsoft Cloud’s market position in the cloud computing industry.
The most recent analyst rating on (HK:3896) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on Kingsoft Cloud Holdings Ltd stock, see the HK:3896 Stock Forecast page.
More about Kingsoft Cloud Holdings Ltd
Kingsoft Cloud Holdings Ltd, incorporated in the Cayman Islands, operates in the cloud computing industry. The company is listed on both the Hong Kong Stock Exchange and NASDAQ, with a focus on providing cloud services and infrastructure, particularly in the AI sector.
Average Trading Volume: 116,424,006
Technical Sentiment Signal: Buy
Current Market Cap: HK$36.7B
For detailed information about 3896 stock, go to TipRanks’ Stock Analysis page.