![]() 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. The fitness platform, backed by SoftBank and Tencent, was originally expected to raise up to $500 million in the IPO. Ximalaya, which had issued a prospectus in April, also canceled its US IPO in recent weeks. The Financial Times reported on Thursday that Keep, a Chinese sports-oriented social platform, and Ximalaya, the largest podcast platform in China, have both cancelled previous IPO plans in the United States during recent weeks. “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. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. Sources: Didi Chuxing may raise 500m for self-driving unit ahead of IPO 11 months ago Didi Autonomous Driving is reportedly looking to rake in up to US500 million in the potential raise at a valuation of. LinkDoc, which due to price its shares on Thursday and expected to raise more than $200m, shelved its Nasdaq IPO plans this week. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. 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. 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. #Didi chinabased ximalaya linkdoc us ipotimes full# #Didi chinabased ximalaya linkdoc us ipotimes full#.The CAC and Ximalaya did not respond to requests for comment. ![]() Shanghai-based Ximalaya, which filed publicly for the U.S. Linkdoc, which is backed by Alibaba Health Information, had been due to price the deal today, determining how much money it would raise. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. market debut of Chinese ride-hailing operator Didi Global, which raised 4.4 billion in one of corporate China’s biggest New York IPOs in years, was rocked by intervention by Beijing. Sources: Didi Chuxing may raise 500m for self-driving unit ahead of IPO 11 months ago Didi Autonomous Driving is reportedly looking to rake in up to US500 million in the potential raise at a valuation of around US6 billion. ![]() ![]() The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. HONG KONG China’s largest online audio platform Ximalaya will file for its Hong Kong initial public offering (IPO) next week after dropping its plans to list in the United States, according. On May 1, Ximalaya submitted an IPO application to the SEC, with Goldman Sachs, Morgan Stanley, Bank of America and CICC acting as joint underwriters. Ximalaya Inc., a nine-year-old company whose name in Chinese means Himalayas and is known for its audiobooks and podcasts, in April filed a draft prospectus for a U.S. ![]() tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. On May 12, LinkDoc was reported to be planning an IPO, cooperating with Bank of America, CICC and Morgan Stanley, possibly raising about 500 million in the process. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. ![]()
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