![]() Beijing-based LinkDoc did not immediately respond to a request for comment. HONG KONG (Reuters) Chinese medical data group LinkDoc Technology Ltd has shelved its listing in the United States to raise up to 211 million following Beijing’s clampdown on overseas listings, according to three sources with direct knowledge of the matter. The sources declined to be named as the information has not yet been made public yet. Advertisement Advertisement The move comes after Beijing on Tuesday said that 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. LinkDoc, which is described as a Chinese medical data solutions provider, filed for an initial public offering (IPO) in the United States last month and was due to price its shares after the U.S. IPO is seen as an example of the great lengths the Chinese government will pursue, even if a company has a high-profile name and numerous foreign investors.Advertisement 11:50AM Share this content Bookmark HONG KONG: Chinese medical data group LinkDoc Technology Ltd has shelved its listing in the United States to raise up to US$211 million following Beijing's clampdown on overseas listings, according to three sources with direct knowledge of the matter. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” the source told FT.Ĭhina’s crackdown on Didi following its U.S. The Chinese podcast platform Ximalaya recently suspended its U.S. ![]() Photonics 21 Platform: High Performance Light sources-based Additive Manufacturing. The truck-hailing app Full Truck Alliance and online recruiter Boss Zhipin are two of the many Chinese companies that filed plans to go public in New York IPOs this year and are being subjected to intense scrutiny. The strong investments of the US and China in. The popular Chinese fitness app Keep is backed by Japan’s SoftBank and China’s Tencent and was looking to raise $500 million, sources told FT. This prospectus contains information derived from various public sources and certain. IPO endeavors as Beijing intensified its policing of technology platforms in China. Sources: after the Didi crackdown, China-based fitness app Keep, podcasting platform Ximalaya, medical data analytics startup LinkDoc pause their US IPO. Class A ordinary shares, par value US0.00008 per share (1)(2). The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S. public listings are not forbidden, the move by LinkDoc is expected to spark a pull-out by additional Chinese companies with U.S. The move by officials prompted investors to unload Chinese stocks listed in the U.S.Īnalysts told Reuters that despite the fact that U.S. LinkDoc is likely the first Chinese startup to have retreated from its IPO plans as China’s regulatory agencies stepped up Big Tech oversight. The move against Didi from Chinese regulators came just two days after it went public in the U.S. Sources told Reuters that LinkDoc was in the midst of filing for a $211 million initial public offering (IPO) in New York but scrapped the plans after Beijing pulled Didi from app stores and from payment platforms WeChat Pay and Alipay. ![]() Medical data firm LinkDoc Technology and digital fitness platform Keep have both pulled out following regulators’ probes into ride-hailing giant Didi Global, according to separate reports from the Financial Times and Reuters on Thursday (July 8). We have successfully built China’s largest data-driven digital infrastructure for precision medicine, according to Frost & Sullivan. in light of China’s crackdown on domestic companies looking to list overseas. At LinkDoc, our mission is to make precision medicine and personalized care a reality by uncovering the story of every patient journey through the power of data and artificial intelligence. Two Chinese startups suspended public listing plans in the U.S.
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