Ximalaya, Keep, LinkDoc and others have all reportedly delayed or canceled planned IPOs. 'It does create difficulty, and it creates higher expectations for what you can achieve.' Others are following ByteDances lead, too.
#Sources didi keep linkdoc free#
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world. 'There is a continuing sense of uncertainty and risk,' former TikTok CEO Kevin Mayer said on CNBC yesterday. “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 US and make it more difficult to raise funds overseas,” he said. Personalize your watchlist with companies you want to keep track of and get notified in the smart feed. LinkDoc filed for an initial public offering in the United. “For companies applying for a US 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. One of the sources said the regulatory uncertainty affected both the company and investors. initial public offering after China’s crackdown, people familiar with the matter said on Thursday.In an op-ed for the party-backed Global Times, Zhejiang University’s Fang Xingdong - a former internet entrepreneur who is a key opinion leader in Chinasaid the U.S. LinkDoc’s decision to suspend its US$211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that US listings were not barred per se. became the first known company to halt plans for a U.S. That was soon followed with an order for Didi’s app be removed from app stores.īeijing also stated on Tuesday, July 6, it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in US-listed Chinese stocks. On that same day, Chinese medical data firm LinkDoc became the first Chinese company to ditch its IPO after the Didi news. 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 just two days after its New York debut. The latest came on Thursday when the Wall Street Journal reported that the Cyberspace Administration of China, which reports to Xi, would police all overseas market listings. “The one million-user threshold is very low and would basically apply to every internet company aspiring for an IPO.Chinese medical data group LinkDoc Technology has shelved plans for an IPO in the United States due to Beijing’s clampdown on overseas listings by domestic firms, according to sources with direct knowledge of the matter. Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States following Beijing's clampdown on overseas listings by domestic firms, according to three sources. All 15 others, including biotech company Brii Biosciences and online. “These rules will push more Chinese internet firms to list in Hong Kong instead of in another country, to bypass such a review,” said Feng Chucheng, a partner at research firm Plenum in Beijing. LinkDoc has suspended plans for a US IPO, the first to do so after Beijings crackdown, Reuters reported. June 30 - Didi raises 4.4 billion in its IPO, pricing it at the top of its indicated range and increasing the number of shares sold, giving it a valuation of 73 billion on a fully diluted basis. LinkDoc is the only firm looking to list on the Nasdaq in New York, among at least 16 companies that announced IPO plans. So far this year, 37 Chinese companies have listed in the U.S., surpassing last year’s count, and raised a combined $12.9 billion, according to data compiled by Bloomberg. Medical data platform LinkDoc Technology shelved its IPO plans on Thursday, becoming the first company to axe its debut after China announced stricter supervision on overseas listings, Bloomberg. The regulator is seeking feedback on the proposed rules, which apply to listings in foreign countries specifically, before implementation. Sources: after the Didi crackdown, China-based fitness app Keep, podcasting platform Ximalaya, medical data analytics startup LinkDoc pause their US IPO. Regulators are also considering requiring VIEs like Alibaba that have already gone public to seek approval for additional share offerings in the offshore market, people with knowledge of the matter have said. through a so-called Variable Interest Entity model that the likes of Alibaba Group Holding Ltd. The move announced on Saturday, which confirms a previous report by Bloomberg, is one of the most concrete steps taken yet to restrain the ability of technology firms to raise capital in the U.S. 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.
0 kommentar(er)
