![]() Pandaily previously reported that LinkDoc had originally prepared to list on the Nasdaq on July 9, under ticker symbol “LDOC,” where it planned to issue 10.8 million American Depository Shares (ADS). Each ADS is equivalent to four common shares, with the issue price ranging from $17.5 to $19.5.Īccording to CareerIn, citing people familiar with the matter, in the future overseas listings of Chinese companies, including offshore entities, will increasingly be brought under the supervision of China Securities Regulatory Commission. In July, 2021, Chinese authorities issued a circular calling for the removal of the “Didi Chuxing” app, then carried out network security reviews on “Yunmanman,” “Huochebang” and “BOSS Zhipin” to ensure accordance with the law. The developments have already had a strong impact on other companies preparing to list publicly in the United States. HONG KONG (Reuters) – China’s 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.Prior to this, on June 11 government officials tested the collection and use of personal information by a range of widely-used apps,notifying 129 of them, including Keep, of their illegal harvesting and use of user data. HONG KONG (Reuters) -Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.Details: 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 Shanghai-based company announced on Thursday it would not proceed with 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. IPO, which Reuters reported in May aimed to raise about $500 million. Instead, it will press ahead with a Hong Kong listing and lodge its preliminary prospectus as early as Monday, two of the sources said. All three sources with direct knowledge of the matter could not be named as the information has not been made public. The size of the float has not been determined, according to the sources. But two of them said the company is targeting a larger amount than the $500 million they had planned to raise in a U.S. The company aims to debut in Hong Kong by the end of the year, said one of the sources. Ximalaya did not respond to a request for comment. Medical data group LinkDoc Technology Ltd in July became the first Chinese company to shelve plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms. Reuters reported in May that Ximalaya, the country’s top podcast and audio app operator, had been pushed by China’s regulators, including the Cyberspace Administration of China (CAC), to withdraw its U.S. listing plans and go public in Hong Kong instead. ![]() The decision to turn to Hong Kong over the United States comes as Chinese authorities further tighten their ideological grip on private media and internet businesses amid China-U.S. Reuters reported last month that China is framing rules to ban companies involved in ideology issues from listing outside the country, including in the United States. Ximalaya is backed by tech majors Tencent, Xiaomi, Baidu as well as Sony Music Entertainment, according to its initial U.S. ![]() In the first quarter of 2021, Ximalaya had about 250 million monthly active users, nearly a fifth of China’s population, according to the filings. It offers users a platform to access free or paid content from roughly 5.2 million professional or amateur content creators. #Sources didi ximalaya linkdoc us ipotimes professional#
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |