NEW YORK (Reuters) – China’s Kingsoft Cloud Holdings Ltd said on Monday it aims to sell up to $450 million in stock in a U.S. initial public offering (IPO), which could value the cloud service provider at as much as $3.8 billion.
Kingsoft will be the first major U.S. IPO by a company that is neither a biotechnology firm nor special purpose acquisition company (SPAC) since the coronavirus outbreak roiled global stocks in March. Biotech and SPAC IPOs are typically immune to broader market swings.
PressReutersChina’s Kingsoft Sets Terms For U.S. Listing, First Major IPO Since Coronavirus Crisis
May 4, 2020
