Alibaba-Backed LinkDoc Eyes up to USD243 Million in Nasdaq IPO. A few days after Didi went public in New York, the Chinese regulator ordered the removal of 25 mobile apps operated by the company. Investigators conducted a month-long on-site investigation into the companies’ internal records, emails and internal communications, but authorities did not find any substantive problems with the companies, according to people familiar with the matter.Īmong the three companies, Didi has been the hardest hit and still faces scrutiny from Chinese security departments and relevant departments in the US. Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States following Beijings clampdown on overseas listings by domestic firms, according to three sources. last June, but soon after, the Chinese government began to strengthen network censorship and conduct data security investigations into these companies. They had started trading at 14,40 and had reached a height of 18,01. J Didi’s shares dropped further to almost 8. But the three companies are expected to face financial penalties while offering the government a 1% stake and direct government involvement in corporate decision-making.Īll three companies were listed in the U.S. July 2021 Various Chinese companies with IPO plans have put these on hold, including LinkDoc, Meicai, Keep, Xiaohongshu and Hello Inc.
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#Didi linkdoc ipotimes full#Īs a result, these companies’ apps will now be allowed to be listed on domestic app stores and allow new registrants, the Wall Street Journal reported on Monday, citing people familiar with the discussion.Īffected by the news, Didi’s stock price soared by over 60% and Full Truck Alliance’s rose by over 37%, while Kanzhun’s rose by over 20%. #Didi keep ximalaya linkdoc us ipotimes full#Ĭhinese regulators are concluding their probes into ride-hailing platform Didi, digital freight platform Full Truck Alliance, and online recruitment platform Kanzhun, in preparation of lifting the current ban on adding new users.HONG KONG, July 8 (Reuters) - Chinese 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.
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