LinkDoc did not immediately respond to a request for comment. 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 $17.50 and $19.50 each. and make it more difficult to raise funds overseas," he said.īacked by Alibaba (NYSE: BABA) Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the U.S.
"The new rules may impose long waiting periods on any companies hoping to list abroad which will hit investor sentiment, depress valuations for IPOs in the U.S. listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities," said Bruce Pang, macro & strategy research head at China Renaissance Securities. 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. That was soon followed with an order for Didi's app be removed from app stores.īeijing also said on Tuesday it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks. 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 York debut. 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. According to a report by Cailian Press, these apps have now resumed new user registrations.Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close 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.
Didi keep ximalaya linkdoc us drivers#
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. It also asked the company to stop registering new users, citing national security and public interest reasons. A few days after Didi went public in New York, the Chinese regulator ordered the removal of 25 mobile apps operated by the company.
Investigators conducted a month-long on-site investigation into the companies’ internal records, emails and internal communications, but authorities did not find any substantive problems with the companies, according to people familiar with the matter.Īmong the three companies, Didi has been the hardest hit and still faces scrutiny from Chinese security departments and relevant departments in the US. last June, but soon after, the Chinese government began to strengthen network censorship and conduct data security investigations into these companies. But the three companies are expected to face financial penalties while offering the government a 1% stake and direct government involvement in corporate decision-making.Īll three companies were listed in the U.S.
Didi keep ximalaya linkdoc us full#
As a result, these companies’ apps will now be allowed to be listed on domestic app stores and allow new registrants, the Wall Street Journal reported on Monday, citing people familiar with the discussion.Īffected by the news, Didi’s stock price soared by over 60% and Full Truck Alliance’s rose by over 37%, while Kanzhun’s rose by over 20%. Chinese regulators are concluding their probes into ride-hailing platform Didi, digital freight platform Full Truck Alliance, and online recruitment platform Kanzhun, in preparation of lifting the current ban on adding new users.
0 kommentar(er)
