#Didi chinabased ximalaya linkdoc us ipotimes series# LinkDoc Technology, a medical data solutions provider and Ximalaya, China’s biggest podcast platform. So far this year, a record US$12.5 billion by Chinese firms has been raised from 34 US listings, Refinitiv data shows, well up from the US$1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the US later this year, a review of the filings showed.
DIDI KEEP XIMALAYA LINKDOC US SERIES
Meanwhile, the seven English audiobooks of the Harry Potter series will also go online on Ximalaya on June 21, bringing more choices for listeners. It is the latest Chinese tech company to postpone its US initial public offering plans. US capital markets have been a lucrative source of funding for Chinese firms in the past decade, especially for technology companies looking to benchmark their valuations against listed peers there and tap an abundant liquidity pool. Morgan Stanley and Bank of America declined to comment, while CICC did not respond to a Reuters request for comment. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal.
stock market to tap deep-pocketed investors, raising more than 100 billion in first-time share sales over the past two. 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. LinkDoc did not immediately respond to a request for comment. Chinese companies in need of capital have long headed to the U.S. The sources declined to be identified as the information has not yet been made public. The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. It had planned to sell 10.8 million shares between US$17.50 and US$19.50 each.Two Chinese startups suspended public listing plans in the U.S. In light of China’s crackdown on domestic companies looking to list overseas. Medical data firm LinkDoc Technology and digital fitness platform Keep have both pulled out following regulators’ probes into ride-hailing giant Didi Global, according to separate reports from the Financial Times and Reuters on Thursday (July 8). 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 payment platforms WeChat Pay and Alipay. The move against Didi from Chinese regulators came just two days after it went public in the U.S. LinkDoc is likely the first Chinese startup to have retreated from its IPO plans as China’s regulatory agencies stepped up Big Tech oversight. The move by officials prompted investors to unload Chinese stocks listed in the U.S.Īnalysts told Reuters that despite the fact that U.S. public listings are not forbidden, the move by LinkDoc is expected to spark a pull-out by additional Chinese companies with U.S. The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S.
IPO endeavors as Beijing intensified its policing of technology platforms in China.
The popular Chinese fitness app Keep is backed by Japan’s SoftBank and China’s Tencent and was looking to raise $500 million, sources told FT.
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