![]() 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.Regulators will potentially gain more access to audit documents of New York-listed Chinese companies.Īnalysts also note the tougher stance coincides with new U.S. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. The tougher stance by the Cybersecurity Administration of China has been driven in part by concerns that the United States could gain greater access to data owned by Chinese firms - similar to concerns that the previous Trump administration had voiced about Chinese firms operating in the United States. later this year, a review of the filings showed. listings, Refinitiv data shows, well up from the $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 U.S. ![]() So far this year, a record $12.5 billion by Chinese firms has been raised from 34 U.S. 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. According to a report by Cailian Press, these apps have now resumed new user registrations.Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal and all declined to comment to Reuters. In July, 2021, the National Cyberspace Administration carried out a network security review on its apps “Yunmanman” and “Huochebang” and set limits on the registering new users. On June 22, 2021, the company was listed on the New York Stock Exchange. SEE ALSO: Ride-hailing Didi to Be Delisted from NYSEįull Truck Alliance has been committed to building an efficient platform to match drivers and consignors. ![]() Sources didi keep linkdoc us ipotimes drivers# ![]() (Yicai Global) July 2 - Chinas LinkDoc Technology, a medical data company invested by Alibaba Group Holdings healthcare arm, aims to raise up to USD243 million in its initial public offering on the Nasdaq. It also asked the company to stop registering new users, citing national security and public interest reasons. Sources didi keep linkdoc us ipotimes drivers#Īlibaba-Backed LinkDoc Eyes up to USD243 Million in Nasdaq IPO.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. 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. “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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