Securities and Exchange Commission (SEC) also began issuing new disclosure requirements to Chinese companies who are looking to list in New York, in an effort to boost investor awareness on the risks involved, Reuters reported in August. Last month, Reuters reported that China was framing rules to ban internet companies whose data poses potential security risks from listing outside the country. HONG KONG, July 8 (Reuters) - Chinese medical data group LinkDoc Technology Ltd LDOC.O has shelved its listing in the United States to raise up to 211 million. listings of Chinese tech firms over the past few months. regulators alike have been tightening their grip on U.S. Ximalaya, backed by China's Tencent Holdings, had filed for an IPO in April.Ĭhinese and U.S. The Financial Times reported on Thursday that Keep, a Chinese sports-oriented social platform, and Ximalaya, the largest podcast platform in China, have both cancelled previous IPO plans in the United States during recent weeks.Medical data group LinkDoc Technology Ltd in July became the first Chinese company to shelve plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. On May 1, Ximalaya submitted an IPO application to the SEC, with Goldman Sachs, Morgan Stanley, Bank of America and CICC acting as joint underwriters.
On May 12, LinkDoc was reported to be planning an IPO, cooperating with Bank of America, CICC and Morgan Stanley, possibly raising about $500 million in the process. At the end of the month, IFR reported that Keep, supported by SoftBank and Tencent, also intended to go to the United States for an IPO, raising $500 million. 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).
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Each ADS is equivalent to four common shares, with the issue price ranging from $17.5 to $19.5.Īccording to CareerIn, citing people familiar with the matter, in the future overseas listings of Chinese companies, including offshore entities, will increasingly be brought under the supervision of China Securities Regulatory Commission. SOURCES DIDI XIMALAYA LINKDOC US IPOTIMES PROFESSIONAL Ximalaya, or Xima FM, is a professional audio sharing platform used widely in China, which provides consumers with best-selling international audio books, English courses taught by world-renowned professors, Chinese courses for industry experts, and more. In July, 2021, Chinese authorities issued a circular calling for the removal of the “Didi Chuxing” app, then carried out network security reviews on “Yunmanman,” “Huochebang” and “BOSS Zhipin” to ensure accordance with the law. The developments have already had a strong impact on other companies preparing to list publicly in the United States. SEE ALSO: Didi’s Mini Programs Removed from WeChat and Alipay, Affecting Its Business Prior to this, on June 11 government officials tested the collection and use of personal information by a range of widely-used apps,notifying 129 of them, including Keep, of their illegal harvesting and use of user data. Keep is a fitness app with various social networking attributes, and has amassed more than 200 million users.
Ximalaya, or Xima FM, is a professional audio sharing platform used widely in China, which provides consumers with best-selling international audio books, English courses taught by world-renowned professors, Chinese courses for industry experts, and more. Ximalaya, or Xima FM, is a professional audio sharing platform used widely in China, which provides consumers with best-selling international audio books, English courses taught by world-renowned professors, Chinese courses for industry experts, and more. SOURCES CHINABASED XIMALAYA LINKDOC IPOTIMES PROFESSIONAL. #SOURCES DIDI XIMALAYA LINKDOC US IPOTIMES PROFESSIONAL# The platform currently boasts more than 400 million registered users. Pandaily previously reported that Didi was officially listed on the NYSE on the evening of June 30, under ticker symbol “DIDI”.
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