![]() Sources told Reuters that LinkDoc was in the midst of filing for a 211 million initial public offering (IPO) in New York but scrapped the plans after Beijing pulled Didi from app stores and from. It will make a final decision about the listing venue within the next two weeks, they added. Ximalaya’s revenue rose 55.5 in the first half of the year to 2.5 billion yuan (388 million), which was down a bit from the 65.2 revenue growth cited in the U.S. The CAC and Ximalaya did not respond to requests for comment. Shanghai-based Ximalaya, which filed publicly for the U.S. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. HONG KONG, July 8 (Reuters) - Chinese medical data group LinkDoc Technology Ltd (LDOC.O) has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by. tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. HONG KONG : Chinas largest online audio platform Ximalaya will file for its Hong Kong initial public offering (IPO) next week after dropping its plans to list in the United States, according to three sources with direct knowledge of the matter.The Shanghai-based company announced on Thursday it would not proceed with its U.S. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. The sources that are outside the smaller resolution are moved into the visible area. regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data. The positions of the sources are not saved in percent of the base resolution, so it don't scale if you change the resolution, it gets messed up instead. Solution: for every base (canvas) resolution you intend to use, use an extra profile+scene collection pair. securities regulator began a rollout of rules that would exclude foreign companies from 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. exchanges if they do not comply with U.S. All Rights Reserved.On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. 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. Sources didi keep linkdoc full#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 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. Alibaba-Backed LinkDoc Eyes up to USD243 Million in Nasdaq IPO (Yicai Global) July 2 - China's LinkDoc Technology, a medical data company invested by Alibaba Group Holding's healthcare arm, aims to raise up to USD243 million in its initial public offering on the Nasdaq. “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. 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. 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. Keep, Ximalaya, and LinkDoc call off their US IPO plans - PingWest English 中文 ![]()
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