#Didi chinabased ximalaya linkdoc us full#

“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. There are unlikely to be any de-listings of China-based issuers until 2025. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan.

#Didi chinabased ximalaya linkdoc us full#

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. See also: Didi debacle riles lawmakers who seek to block U.S. 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. 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. IPO endeavors as Beijing intensified its policing of technology platforms in China. The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S. China Mobile and Weibo have been delisted from the US and we expect them to complete their secondary listing in Shanghai and Hong Kong respectively. 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. pipeline among firms that had already filed to list, according to Refinitiv data. It was the second-largest Chinese IPO in the 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. LinkDoc was expected to raise up to 211 million on the Nasdaq. 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). in light of China’s crackdown on domestic companies looking to list overseas. Two Chinese startups suspended public listing plans in the U.S. Sources: after the Didi crackdown, China-based fitness app Keep, podcasting platform Ximalaya, medical data analytics startup LinkDoc pause their US IPO.