![]() ![]() ![]() On Wednesday, it updated its sale prospectus, flagging risks from Beijing’s new directive about overseas IPOs. Uncertainties exist on how soon “legislative or administrative regulation-making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated,” it said. The company, which provides cancer-focused health care services by relying on big data and artificial intelligence, had planned to sell 10.8 million shares priced between USD 17.50 and USD 19.50 each. Thirty-six Chinese companies have held IPOs in the US this year, raising a total of USD 12.6 billion, according to Dealogic. This marks the fastest start to a year ever recorded by the data provider and compares with six listings that raised USD 2.8 billion in the same period last year.Īnalysts and bankers now expect US IPOs by mainland companies to slump, at least in the short term. Some 16 companies, including Alibaba-backed Chinese media and data cloud service platform Qiniu, housekeeping services company Daojia, and ForU Worldwide, a digital freight transportation company, were looking to raise over USD 4 billion, people familiar with the transactions said.īeijing has reportedly pressured podcast platform Ximalaya to halt plans to list in the US in favor of Hong Kong due to data security concerns. The issue is also likely to be factored into keenly watched plans by ByteDance to list some or all of its businesses, such as TikTok. This article first appeared on Nikkei Asia. It’s republished here as part of 36Kr’s ongoing partnership with Nikkei. The Chines fitness app and SoftBank however declined to comment on the alleged foiled IPO plans.įamous Chinese fitness app has called off plans to file for an Initial Public Offering in the United States amid the latest attempt to crackdown crypto firms by the Chinese government. #Chinabased keep linkdoc us ipotimes full.According to sources close to the company of the Chinese fitness app, the decision not to follow through with its New York IPO plans came after Chinese regulators announced an investigation into data security concerns at ride-hailing company DiDi. IPOs due to regulatory pressure include fitness tech company Keep. #Chinabased keep linkdoc us ipotimes full Chinese medical data group LinkDoc Technology has shelved plans for an IPO in the US amid the clampdown on overseas listings, Reuters reported Thursday, citing sources with direct knowledge of the. 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 According to reporting by the Financial Times, other Chinese tech companies who. ![]() 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. ![]()
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