initial public offering at the last minute, two people familiar with the transaction said, becoming the first. Last week, citing concerns over national data security, China’s Cyberspace Administration of China initiated a review of Didi, Full Truck, and Boss Zhipin, three recent US-listed technology companies Two Chinese startups suspended public listing plans in the U.S. DIDI KEEP XIMALAYA LINKDOC US IPOTIMES FULL in light of China’s crackdown on domestic companies looking to list overseas. On Tuesday, China said it would tighten restrictions on overseas listings of Chinese companies, urging regulators to amend laws and regulations on data security, cross-border data flow, and other confidential information management. Meanwhile, the seven English audiobooks of the Harry Potter series will also go online on Ximalaya on June 21, bringing more choices for listeners. DIDI KEEP XIMALAYA LINKDOC US IPOTIMES SERIESĪll Rights Reserved.Read more: Didi Hit With U.S. Ximalaya is a popular online audio sharing platform in China. In 2021, monthly active users reached 268 million. It boasts rich experience in content production and channel distribution. LinkDoc’s IPO delay also comes as regulators in Beijing are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, Bloomberg News reported this week. Reuters reported LinkDoc’s IPO halt earlier Thursday. A representative for LinkDoc declined to comment. LinkDoc has suspended plans for a US IPO, the first to do so after Beijing's crackdown, Reuters reported. LinkDoc, founded in 2014, provides cancer focused health-care services built on big data and artificial intelligence, its website shows. Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.Details: Keep did not go ahead with its planned public filing while its bankers at Morgan Stanley canceled marketing meetings with investors this week, Financial Times reported, citing people familiar with the matter. The Alibaba-backed medical-data firm, which filed for its IPO in June, was set to price its. Its investors include Alibaba Health Information Technology Ltd., MBK Partners, New Enterprise Associates and Temasek Holdings Pte according to a preliminary filing.Ĭhinese companies have raised about $13 billion through first-time share sales in the U.S. LinkDoc’s IPO delay also comes as regulators in Beijing are planning rule changes that would allow them to block a Chinese. this year, according to data compiled by Bloomberg. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. Medical data group LinkDoc Technology Ltd () in July was the first Chinese company to shelve an IPO in the US due to Beijing’s clampdown on overseas listings by domestic firms. listing by a Chinese firm on record, after Alibaba Group Holding Ltd.’s $25 billion blockbuster debut in 2014. One of the sources said the regulatory uncertainty affected both the company and investors. LinkDoc filed for an initial public offering in the United States last month and was due to price its shares after the U.S. Ximalaya, backed by China’s Tencent Holdings, had filed for an IPO in April.
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