** U.S.-listed shares of Chinese cloud service provider Kingsoft Cloud KC.O fall 9.1% to $12 premarket
** KC commences stock offering of 18.5 million American depositary shares
** Stock closed down 6% at $13.20 on Tuesday
** Morgan Stanley, Goldman Sachs, CICC, Deutsche Bank, HSBC and Merrill Lynch are the underwriters for the offering
** Concurrently, the firm's existing shareholder Kingsoft Corp 3888.HK has agreed to purchase certain number of KC shares in a private placement
** Proceeds will be used to upgrade infrastructure, technology investments, and other purposes
** 5 of 8 brokerages rate stock "buy" or higher and three "hold"; median PT $18.10 - data compiled by LSEG
** As of last close, KC stock was up 25.8% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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