![]() ![]() It was a playful story that surely worried those in power. ![]() While the plan is still in the negotiation phase, Didi would need to get the approval of its board and major pre-IPO investors to make it happen.įollowing the report, Didi shared a post on Weibo, China’s Twitter-like microblogging platform, and denied the delisting rumors, adding that it’s cooperating with the investigation. Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijings clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. Didi did not help itself in 2015, when it ran a review in conjunction with state news agency Xinhua about usage at government ministries. Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US Jul 09, 2021, 13:07pm 9 20:11:02 Pandaily 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. It has reportedly asked its major underwriters to assess the views of its investors regarding the delisting plan and the price range they would agree with. LinkDoc, which is described as a Chinese medical data solutions provider, filed for an initial public offering (IPO) in the United States last month and was due to price its shares after the U.S. In order to resolve the problems, the company has held negotiations with regulators, bankers and its key investors, according to sources close to the company. listing, the biggest listing by a Chinese company since 2014 when Alibaba hit a world record raising $25 billion.ĭays after listing on the New York Stock Exchange, Chinese authorities launched a probe into Didi due to national security concerns and China’s cyberspace regulator ordered a ban on the new downloads of the app for illegally collecting user data.įollowing the news, Didi’s shares fell as much as 30% to $10.90 and the Chinese company lost $22 billion in market cap. In late June, Didi raised $4.4 billion in a U.S. 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 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.
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