A few days after Didi went public in New York, the Chinese regulator ordered the removal of 25 mobile apps operated by the company. Alibaba-Backed LinkDoc Eyes up to USD243 Million in Nasdaq IPO.
It also asked the company to stop registering new users, citing national security and public interest reasons.
(Yicai Global) July 2 - Chinas LinkDoc Technology, a medical data company invested by Alibaba Group Holdings healthcare arm, aims to raise up to USD243 million in its initial public offering on the Nasdaq. SEE ALSO: Ride-hailing Didi to Be Delisted from NYSEįull Truck Alliance has been committed to building an efficient platform to match drivers and consignors. On June 22, 2021, the company was listed on the New York Stock Exchange. In July, 2021, the National Cyberspace Administration carried out a network security review on its apps “Yunmanman” and “Huochebang” and set limits on the registering new users. According to a report by Cailian Press, these apps have now resumed new user registrations.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. So far this year, a record $12.5 billion by Chinese firms has been raised from 34 U.S. listings, Refinitiv data shows, well up from the $1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the U.S. later this year, a review of the filings showed. The tougher stance by the Cybersecurity Administration of China has been driven in part by concerns that the United States could gain greater access to data owned by Chinese firms - similar to concerns that the previous Trump administration had voiced about Chinese firms operating in the United States. In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. Regulators will potentially gain more access to audit documents of New York-listed Chinese companies.Īnalysts also note the tougher stance coincides with new U.S.
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