12/24/2023 0 Comments Sources ximalaya linkdoc us![]() ![]() 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. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. Sources: Didi Chuxing may raise 500m for self-driving unit ahead of IPO 11 months ago Didi Autonomous Driving is reportedly looking to rake in up to US500 million in the potential raise at a valuation of around US6 billion. market debut of Chinese ride-hailing operator Didi Global, which raised 4.4 billion in one of corporate China’s biggest New York IPOs in years, was rocked by intervention by Beijing. 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. ![]() Linkdoc, which is backed by Alibaba Health Information, had been due to price the deal today, determining how much money it would raise. Shanghai-based Ximalaya, which filed publicly for the U.S. #Didi chinabased ximalaya linkdoc us ipotimes full#Didi chinabased ximalaya linkdoc us ipotimes full#.The CAC and Ximalaya did not respond to requests for comment. Last week, citing concerns over national data security, China’s Cyberspace Administration of China initiated a review of Didi, Full Truck, and Boss Zhipin, three recent US-listed technology companies On June 11, Beijing passed a new Data Security Law that regulates how companies collect, store and use data. The Alibaba-backed company offers a repository of big data for the healthcare industry such as clinical trials, AI diagnosis, and management.Ĭontext: Data security and cyber sovereignty are also what China emphasis in recent years. LinkDoc, which due to price its shares on Thursday and expected to raise more than $200m, shelved its Nasdaq IPO plans this week. Sources: Didi Chuxing may raise 500m for self-driving unit ahead of IPO 11 months ago Didi Autonomous Driving is reportedly looking to rake in up to US500 million in the potential raise at a valuation of. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” people with knowledge of the matter told Financial Times. 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. ![]() Ximalaya, which had issued a prospectus in April, also canceled its US IPO in recent weeks. The fitness platform, backed by SoftBank and Tencent, was originally expected to raise up to $500 million in the IPO. Keep, Ximalaya, and LinkDoc call off their US IPO plans J9:17 pmĬhinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.ĭetails: 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. ![]()
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