exchanges have long been popular listing venues for Chinese tech firms attracted by deep liquidity, high valuations, easier profitability rules and prestige. However, it called off the process on July 9. On July 1, 2021, LinkDoc updated its IPO prospectus after it was first filed in June of the same year. Several big U.S.-listed Chinese companies, however, including internet giants Alibaba and Baidu, have issued shares in Hong Kong in the past two years. LinkDoc Technology recently withdrew its IPO application in the US market after a nine-month halt to the process. regulators will potentially gain greater access to audit documents of New York-listed Chinese companies.Ī record $12.5 billion, in 34 deals, has been raised so far in 2021 from Chinese firms listing in the United States, Refinitiv data shows, including Didi, which started trading on June 30. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's growing concerns that U.S. In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. 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. auditing standards for three straight years. Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US. exchanges if they fail to comply with U.S. auditing standards, a move aimed at removing Chinese firms from U.S. The Cyberspace Administration of China said it fined Didi 8.026 billion yuan (1.19 billion) after deciding the company violated China’s network security law, data security law and.
the LinkDoc deal was due to the crackdown, the sources said. exchanges if they did not comply with U.S. Beijing was pressing audio platform Ximalaya to drop U.S. Citing sources, Bloomberg reported last month that LinkDoc.
The company said the proceeds of the IPO will be used to strengthen its research and development capabilities, investment, and acquisitions. securities regulator began a rollout of rules to exclude foreign companies from U.S. LinkDoc Technology Ltd, a medical data company backed by Alibaba's health subsidiary, filed for an initial public offering in the US on Monday. 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.
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