The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. Pandaily previously reported that LinkDoc had originally prepared to list on the Nasdaq on July 9, under ticker symbol LDOC, where it planned to issue 10.8 million American Depository Shares (ADS). The sources declined to be identified as the information has not yet been made public. , also intended to go to the United States for an IPO, raising 500 million. Chinese companies in need of capital have long headed to the U.S. LinkDoc did not immediately respond to a request for comment. 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. stock market to tap deep-pocketed investors, raising more than 100 billion in first-time share sales over the past two. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal. Morgan Stanley and Bank of America declined to comment, while CICC did not respond to a Reuters request for comment. US capital markets have been a lucrative source of funding for Chinese firms in the past decade, especially for technology companies looking to benchmark their valuations against listed peers there and tap an abundant liquidity pool. It is the latest Chinese tech company to postpone its US initial public offering plans.
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Meanwhile, the seven English audiobooks of the Harry Potter series will also go online on Ximalaya on June 21, bringing more choices for listeners. So far this year, a record US$12.5 billion by Chinese firms has been raised from 34 US listings, Refinitiv data shows, well up from the US$1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the US later this year, a review of the filings showed. #Didi chinabased ximalaya linkdoc us ipotimes series# LinkDoc Technology, a medical data solutions provider and Ximalaya, China’s biggest podcast platform. Ximalaya is a popular online audio sharing platform in China. 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. In 2021, monthly active users reached 268 million. That was soon followed with an order for Didi's app be removed from app stores. #Didi chinabased ximalaya linkdoc us ipotimes series#.Healthcare IT firm LinkDoc Technology and fitness app Keep have cancelled US listing plans following pressure from Beijing. It had planned to sell 10.8 million shares between 17.50 and 19.50 each. The sources declined to be identified as the information has not yet been made public.
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The crackdown has been extended to other US-listed firms including Kanzhun and Full Truck Alliance. LinkDoc did not immediately respond to a request for comment. Oncology (ESTRO) and the European Society of Medical Oncology (ESMO), did. A forced US delisting may also be on the cards for the ride-hailer, reports suggested. From 2014 to 2018, US lung cancer mortality rates declined by 5 per year for. Bloomberg reported on Thursday that the authorities are looking to punish Didi with hefty fines, suspension of certain operations and insertion of state-owned investors. US-listed Didi Global has been the poster boy of Beijing’s recent crackdown on tech. The Guangzhou-based firm’s listing comes at a time when Beijing has been relentlessly trying to rein in the country’s growing technology sector.Ĭhinese authorities have been particularly concerned about the enormous amounts of personal data in the hands of internet companies.Įarlier this month, China’s cyber-security watchdog broadened its crackdown on China-based companies listing overseas, ruling that companies handling personal information of more than one million users must undergo a security review before listing abroad.
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