Business· TMT

Kingsoft Office to be the third listed firm of Xiaomi founder Lei Jun

minutes 2019/07/17 06:16:25
Kingsoft Office, IPO, China’s Sci-Tech Innovation Board, the STAR Market, Xiaomi

Jul 17, 2019 (China Knowledge) - The listing of Beijing Kingsoft Office Software, an office software firm, is in the pipeline for release. The company will be the third one listed by Lei Jun, who is the founder of Chinese smartphone maker Xiaomi.

The preparation of Kingsoft Office’s listing on China’s Sci-Tech Innovation Board, known as the STAR Market, comes after Lei Jun’s other 2 companies Xiaomi and Kingsoft Software went public in Hong Kong.

The STAR Market has updated information on the company’s response to an inquiry from the Shanghai Stock Exchange on its IPO application.

The company plans to raise RMB 2.05 bln by issuing no more than 101 million shares, 21.94% of the company’s total stock. The funds raised will be used to further upgrade Kingsoft’s WPS office, artificial intelligence and cloud services research, as well as expanding its office software field on the global stage.

Kingsoft Office’s products such as WPS Office and Kingsoft PowerWord are available on mainstream operating platforms including Windows, Linux, Android, and IOS. Monthly active users (MAU) of these products hit 310 million by the end of last year. According to the company’s prospectus released on May 8th, 220 countries and regions have access to WPS Office’s mobile version and have over 181 million MAUs.

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