Didi chinabased keep ximalaya linkdoc6/24/2023 ![]() 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. listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities," said Bruce Pang, macro & strategy research head at China Renaissance Securities. "The new rules may impose long waiting periods on any companies hoping to list abroad which will hit investor sentiment, depress valuations for IPOs in the U.S. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its. It had planned to sell 10.8 million shares between $17.50 and $19.50 each.Īnd make it more difficult to raise funds overseas," he said.īacked by Alibaba Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the 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. 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. ![]() The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. The sources declined to be identified as the information has not yet been made public. LinkDoc did not immediately respond to a request for comment. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal and all declined to comment to Reuters. ![]() Capital markets have been a lucrative source of funding for Chinese firms in the past decade, especially for technology companies looking to benchmark their valuations against listed peers there and tap an abundant liquidity pool.
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