Alibaba-backed medical data firm LinkDoc Technology Ltd. The move against Didi from Chinese regulators came just two days after it went public in the U.S. IPO as the fallout from China’s crackdown on data-rich companies listing overseas continues. 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 by officials prompted investors to unload Chinese stocks listed in the U.S.Īnalysts told Reuters that despite the fact that 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. Provide the latest LinkDoc Technology(LDOC) market data, including prices, cycle charts, basic information and real-time news information, financial analysis, company introduction, dividends and dividend information, you can also use Moomoo to open an account to trade LinkDoc Technology stockswe will provide investors with reference decision data. The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S. IPO endeavors as Beijing intensified its policing of technology platforms in China. 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.
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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 Chinese podcast platform Ximalaya recently suspended its U.S. “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. 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.EXCLUSIVE LinkDoc becomes first Chinese firm to shelve U.S. , according to three sources with direct knowledge of the matter.It is the first known Chinese firm to pull back from its IPO plans since the crackdown began last week with an investigation by China's cybersecurity regulator into ride-hailing giant Didi Global Inc IPO after Beijing's crackdownĬhinese medical data group LinkDoc Technology Ltd (LDOC.O) has shelved plans for an IPO in the United States following Beijing's clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. (DIDI.N)just two days after it made its New York debut.Beijing said on Tuesday 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.The decision to pull the LinkDoc deal was due to the crackdown, the sources said. One of the sources said the regulatory uncertainty affected both the company and investors. Read more: Reuters »Įxplorers find WWII Navy destroyer, deepest wreck discoveredĮxplorers say they found the wreckage of the USS Samuel B Read more >Īnalysts also note the tougher stance coincides with new U.S. The Big Shorts Short Squeeze - US Short Squeeze - Australia Short Squeeze. regulations being rolled out that could see Chinese companies delisted if they do not comply with U.S. Beijing was pressing audio platform Ximalaya to drop U.S. Beijing 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. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. Regulators will potentially gain more access to audit documents of New York-listed Chinese companies.
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