regulators will potentially gain more access to audit documents of New York-listed Chinese companies. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that 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. Beijing was pressing audio platform Ximalaya to drop U.S. regulations being rolled out that could see Chinese companies delisted if they do not comply with U.S. The Big Shorts Short Squeeze - US Short Squeeze - Australia Short Squeeze. 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.
One of the sources said the regulatory uncertainty affected both the company and investors. (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. , 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. 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. “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.
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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 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. 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. 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. IPO as the fallout from China’s crackdown on data-rich companies listing overseas continues. The move against Didi from Chinese regulators came just two days after it went public in the U.S. Alibaba-backed medical data firm LinkDoc Technology Ltd. economic sanctions and violating the Weapons of Mass Destruction Proliferators Sanctions Regulations (WMDPSR) through front companies by facilitating prohibited 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. Four Chinese nationals and a trading company based in Dandong, China, were charged by criminal complaint unsealed today with conspiring to evade U.S. 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.
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