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IT: Kingsoft plans to go public

Category:[world] [BIZCHINA] [Biz Media Digest]

Software developer Kingsoft Corp. plans to raise roughly US$100 million from an overseas listing next year. It has attracted investment from a group of foreign investors that includes Intel Corp., a Kingsoft executive said Wednesday.

í░We are assessing IPO opportunities in different markets, including NASDAQ. In terms of cost and geography, however, Hong Kong is more convenient,í▒ said Kingsoft chief financial officer Wang Donghui.

Kingsoft said a group of companies led by Singaporeí»s Government Investment Corp. agreed to invest US$72 million in the company. Also in the group were Intelí»s venture-capital arm, Intel Capital, and New Horizon Fund, a private equity fund set up by Singapore state investment company Temasek Holdings Pte. and Tokyo-based financial service company SBI Holdings Inc.



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