![]() Ximalaya, backed by China’s Tencent Holdings, had filed for an IPO in April. LinkDoc filed for an initial public offering in the United States last month and was due to price its shares after the U.S. One of the sources said the regulatory uncertainty affected both the company and investors. listing by a Chinese firm on record, after Alibaba Group Holding Ltd.’s $25 billion blockbuster debut in 2014. 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. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. this year, according to data compiled by Bloomberg. LinkDoc’s IPO delay also comes as regulators in Beijing are planning rule changes that would allow them to block a Chinese. 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. The Alibaba-backed medical-data firm, which filed for its IPO in June, was set to price its. 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. LinkDoc, founded in 2014, provides cancer focused health-care services built on big data and artificial intelligence, its website shows. LinkDoc has suspended plans for a US IPO, the first to do so after Beijing's crackdown, Reuters reported. A representative for LinkDoc declined to comment. ![]() Reuters reported LinkDoc’s IPO halt earlier Thursday. ![]() 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. It boasts rich experience in content production and channel distribution. In 2021, monthly active users reached 268 million. Ximalaya is a popular online audio sharing platform in China. DIDI KEEP XIMALAYA LINKDOC US IPOTIMES SERIESAll Rights Reserved.Read more: Didi Hit With U.S. Meanwhile, the seven English audiobooks of the Harry Potter series will also go online on Ximalaya on June 21, bringing more choices for listeners. 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. in light of China’s crackdown on domestic companies looking to list overseas. DIDI KEEP XIMALAYA LINKDOC US IPOTIMES FULLLast 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. initial public offering at the last minute, two people familiar with the transaction said, becoming the first. On June 11, Beijing passed a new Data Security Law that regulates how companies collect, store and use data. HONG KONG - Chinese medical data group LinkDoc Technology has called off its U.S. ![]() The Alibaba-backed company offers a repository of big data for the healthcare industry such as clinical trials, AI diagnosis, and management.Ĭontext: Data security and cyber sovereignty are also what China emphasis in recent years. Chinas largest online audio platform Ximalaya said on Thursday it had decided not to proceed with its plans for an initial public offering (IPO) in the. LinkDoc, which due to price its shares on Thursday and expected to raise more than $200m, shelved its Nasdaq IPO plans this week. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” people with knowledge of the matter told Financial Times. ![]() Ximalaya, which had issued a prospectus in April, also canceled its US IPO in recent weeks. The fitness platform, backed by SoftBank and Tencent, was originally expected to raise up to $500 million in the IPO. Keep, Ximalaya, and LinkDoc call off their US IPO plans J9:17 pmĬhinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.ĭetails: 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. Keep, Ximalaya, and LinkDoc call off their US IPO plans - PingWest English 中文 Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US A number of Chinese companies have reportedly cancelled IPO plans in the U.S., in fear of national security review from the authority. ![]()
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