Caixin
Jul 29, 2022 05:40 AM
TECH

Nasdaq-Traded Kingsoft Cloud Files for Dual Primary Listing in Hong Kong

Kingsoft Cloud raised $510 million from its Nasdaq initial public offering in 2020.
Kingsoft Cloud raised $510 million from its Nasdaq initial public offering in 2020.

Nasdaq-traded Chinese cloud computing company Kingsoft Cloud Holdings Ltd. filed for a dual primary listing in Hong Kong Wednesday.

It joined a flock of U.S.-listed Chinese companies seeking alternative fundraising channels as they face delisting in the case that Washington and Beijing fail to settle a long-running dispute over audit rules.

The U.S. Securities and Exchange Commission in May added Kingsoft Cloud to a growing list of Chinese companies facing possible expulsion from American exchanges for failing to meet audit requirements. The company said it would seek a secondary listing in Hong Kong after its stock lost 48% following the delisting threat.

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