![]() ![]() ![]() On Tuesday, China said it would tighten restrictions on overseas listings of Chinese companies, urging regulators to amend laws and regulations on data security, cross-border data flow, and other confidential information management. China Mobile and Weibo have been delisted from the US and we expect them to complete their secondary listing in Shanghai and Hong Kong respectively. Backed by Alibaba Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the U.S. Sources: after the Didi crackdown, China-based fitness app Keep, podcasting platform Ximalaya, medical data analytics startup LinkDoc pause their US IPO. 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 Sources: after the Didi crackdown, China-based fitness app Keep, podcasting platform Ximalaya, medical data analytics startup LinkDoc pause their US IPO plans (. ![]() On June 11, Beijing passed a new Data Security Law that regulates how companies collect, store and use data. 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. LinkDoc, which due to price its shares on Thursday and expected to raise more than $200m, shelved its Nasdaq IPO plans this week. “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. 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. Ximalaya, which had issued a prospectus in April, also canceled its US IPO in recent weeks. The fitness platform, backed by SoftBank and Tencent, was originally expected to raise up to $500 million in the IPO. Sources: after the Didi crackdown, China-based health app Maintain, podcasting platform Ximalaya, medical knowledge analytics startup LinkDoc pause their US IPO. 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 Alibaba-backed medical-data firm, which filed for its IPO in June, was set to price its. Ximalaya is among dozens of firms that are reevaluating going public in the US since Beijing increased its scrutiny of the sector in early July, following the US4.4 billion float of ride-hailing giant Didi Chuxing in New. Keep, Ximalaya, and LinkDoc call off their US IPO plans - PingWest English 中文 LinkDoc has suspended plans for a US IPO, the first to do so after Beijing's crackdown, Reuters reported. Reuters reported the plans for a Hong Kong offer earlier in the day, saying the listing could raise about US500 million. ![]()
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