May 8, 2020 / 4:09 AM / 25 days ago

China's Kingsoft raises $510 mln in U.S. IPO - sources

HONG KONG, May 8 (Reuters) - China’s Kingsoft Cloud Holdings Ltd raised $510 million in its U.S initial public offering after pricing its shares at $17 each, according to two sources with direct knowledge of the matter.

The cloud service provider had planned to sell 25 million shares but increased the size of the deal to 30 million on Friday, the sources said.

The people could not be named because the information had not been made public yet.

Reporting by Scott Murdoch in Hong Kong and Echo Wang in New York; Editing by Muralikumar Anantharaman

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