in light of China’s crackdown on domestic companies looking to list overseas. The sources declined to be named as the information has not yet been made public yet.īeijing-based LinkDoc did not immediately respond to a request for comment. Two Chinese startups suspended public listing plans in the U.S. The book closed one day earlier than planned on Wednesday, two of the sources said. LinkDoc filed for an initial public offering in the United States last month and was due to price its shares after the U.S. One of the sources said the regulatory uncertainty affected both the company and investors.
The deal would have raised $211 million at the upper end of the indicated range. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. It had planned to sell 10.8 million shares between $17.50 and $19.50 each. But it will also ram home a much bigger point. One of the sources said the regulatory uncertainty affected both the company and investors. When Ant Group prices its IPO in Shanghai and Hong Kong this week, it could set a new world record for a stock market listing. The firm operates an online network of oncology physicians/patients/life science companies in China. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. LinkDoc Technology has filed to raise 200 million in a U.S. HONG KONG, July 8 (Reuters) - Chinese medical data group LinkDoc Technology Ltd LDOC.O has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic. At the end of the month, IFR reported that Keep, supported by SoftBank and Tencent, also intended to go to the United States for an IPO, raising 500 million. It is the first known Chinese firm to pull back from its IPO plans since the crackdown began last week with an investigation by China's cybersecurity regulator into ride-hailing giant Didi Global Inc (DIDI.N) just two days after it made its New York debut.īeijing said on Tuesday that it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks. On May 12, LinkDoc was reported to be planning an IPO, cooperating with Bank of America, CICC and Morgan Stanley, possibly raising about 500 million in the process. 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.