![]() The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. It had planned to sell 10.8 million shares between $17.50 and $19.50 each. and make it more difficult to raise funds overseas," he said.īacked by Alibaba Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the U.S. "The new rules may impose long waiting periods on any companies hoping to list abroad which will hit investor sentiment, depress valuations for IPOs in the U.S. listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities," said Bruce Pang, macro & strategy research head at China Renaissance Securities. LinkDoc's decision to suspend its $211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that U.S. That was soon followed with an order for Didi's app be removed from app stores.īeijing also said on Tuesday it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks. Keep, Ximalaya, and LinkDoc call off their US IPO plans - PingWest English 中文 Ximalaya had 267.9 million monthly active users as of last year, one-fifth of the Chinese population, both through its own mobile app and third-party devices such as smart speakers.It is the first Chinese firm known to have pulled back from IPO plans since China's cybersecurity regulator toughened its approach to oversight last week with an investigation into ride-hailing giant Didi Global Inc just two days after its New York debut. 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. The fitness platform, backed by SoftBank and Tencent, was originally expected to raise up to $500 million in the IPO. Ximalaya, which had issued a prospectus in April, also canceled its US IPO in recent weeks. Keep, Ximalaya, and LinkDoc call off their US IPO plans. LinkDoc Technology, a health care technology firm, and Ximalaya, a platform for audio sharing, have also reportedly delayed their U.S. “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. ![]() 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. Chinese regulators are said to have pressured Ximalaya to drop its U.S. listing in favor of Hong Kong earlier this year. LinkDoc, which due to price its shares on Thursday and expected to raise more than $200m, shelved its Nasdaq IPO plans this week. 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. 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 On June 11, Beijing passed a new Data Security Law that regulates how companies collect, store and use data. #DIDI CHINABASED XIMALAYA LINKDOC US IPOTIMES FULL# #DIDI CHINABASED XIMALAYA LINKDOC US IPOTIMES FULL#.
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