exchanges if they do not comply with U.S. securities regulator began a rollout of rules that would exclude foreign companies from U.S. Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.Details: 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. In late June, Didi raised 4.4 billion in a U.S. regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data. 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. Chinese medical data group LinkDoc Technology Ltd (LDOC.O) has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms, according to three. Chinese ride-hailing giant Didi Global is considering going private in order to calm Chinese authorities and compensate for the losses incurred after going public in the United States last month, sources familiar with the matter told the Wall Street Journal. "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. 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. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. LinkDoc's decision to suspend its 211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that U.S. 'Didi Chuxing app is found to have severely violated the laws. 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. The Cyberspace Administration of China on Sunday banned Didi from app stores after saying it posed a cybersecurity risk for customers. Shanghai-based Ximalaya, which filed publicly for the U.S. The CAC and Ximalaya did not respond to requests for comment. It will make a final decision about the listing venue within the next two weeks, they added.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |