LinkDoc Technology is now planning to lead a $200 to $300 million financing round before its upcoming IPO in Hong Kong, according to Bloomberg. LinkDoc Technology Limited, a medical data platform company backed by Alibaba, was the first to scrape its IPO plan in the U.S. Securities and Exchange Commission is also issuing new disclosure requirements, asking Chinese companies to reveal their use of variable interest entities (VIEs) to investors. Yet the pressure for Chinese tech companies doesn't stop there - the U.S. IPO plans since July.Īccording to Reuters, China is currently framing new regulations to ban IPOs outside of the country for tech companies with data security risks. Under pressure from regulators and distrust from investors, many Chinese companies such as Xiaohongshu, a social commerce platform backed by Alibaba and Tencent Keep, a fitness app backed by Tencent and Ximalaya, have either dropped or suspended their U.S. IPO plan and list in Hong Kong instead since May. That was soon followed with an order for Didi's app be removed from app stores. Amid a cybersecurity probe, Chinese authorities have pressured Ximalaya to drop its U.S. 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. pipeline among firms that had already filed to list, according to Refinitiv data. It was the second-largest Chinese IPO in the U.S. Ximalaya has previously suspended its IPO plan after DiDi's disastrous IPO in July. LinkDoc was expected to raise up to 211 million on the Nasdaq. Thursday, Ximalaya, one of China's most prominent audio streaming platforms backed by Tencent, said it will drop its IPO plan in the United States filed in April. ![]() Didi’s IPO was the second largest US listing by a Chinese firm on record, after Alibaba Group Holding Ltd’s () US25 billion blockbuster debut in 2014. ![]() stock market to tap deep-pocketed investors, raising more than 100 billion in first-time share sales over the past two. Ximalaya drops US IPO plan amid China's crackdown on overseas listing Septem3:59 pm Chinese companies have raised about US13 billion through first-time share sales in the US this year, Bloomberg data showed. Chinese companies in need of capital have long headed to the U.S. Ximalaya drops US IPO plan amid China's crackdown on overseas listing - PingWest English 中文
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |