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. The book closed one day earlier than planned on Wednesday, two of the sources said. The deal would have raised $211 million at the upper end of the indicated range. It had planned to sell 10.8 million shares between $17.50 and $19.50 each. 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 decision to pull the LinkDoc deal was due to the crackdown, the sources said. 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. listing plans on hold.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. Others such as social media and e-commerce site Xiaohongshu, or Little Red Book, have put U.S. On-demand logistics and delivery firm Lalamove has also contemplated a similar move. IPO to Hong Kong, Bloomberg News reported last month. 2021, Stock Listings/IPO, In June, the company announced to raise US500. J&T Express, an Indonesian courier company with significant operations in China, is weighing moving its planned U.S. LinkDoc Technology Beijing Co Ltd Company Profile - LinkDoc Technology Beijing. and China have cast doubt on the plans of a slew of companies seeking to raise capital in New York from share sales. Its investors, besides Alibaba Health, include MBK Partners, New Enterprise Associates and Temasek Holdings Pte., according to the preliminary filing in the U.S. Shanghai Suspends Key Approval on Route to Offshore Listingsįounded in 2014, LinkDoc provides cancer focused health-care services built on big data and artificial intelligence, its website shows.China Tightens Rules on Foreign IPOs in New Blow to Tech Firms Backed by Alibaba Health Information Technology Ltd 0241.HK, LinkDoc filed for its IPO last month and was due to price its shares after the U.S.Beijing-based LinkDoc could revisit its listing plans when market conditions improve. China is moving to plug regulatory gaps with new rules requiring nearly all companies seeking to list abroad to undergo a cybersecurity review. Backed by Alibaba Health Information Technology Ltd 0241.HK, LinkDoc filed for its IPO last month and was due to price its shares after the U.S. By Will Feuer China-based medical data company LinkDoc Technology Ltd. IPO plans following Beijing’s crackdown on overseas listings. LinkDoc Technology Scraps IPO, Citing Market Conditions. It pulled its listing plan at the last moment blaming market volatility, Bloomberg News reported in July, with the firm becoming the first known Chinese aspirant to halt its U.S. LinkDoc was slated to raise as much as $211 million from the U.S. This company is poised to offer 10,825,000 shares of stock on the Nasdaq Global Select on the week of July 9th at a price range between 17.50-19.50. A representative for LinkDoc did not immediately respond to requests for comment. What Is LinkDoc Technology Limited IPO Date LinkDoc Technology Ltd (NASDAQ Global Select: LDOC) is a prominent oncology big data business. Deliberations are ongoing and no decision has been reached, they said, adding the plan and details of the pre-IPO round and the Hong Kong IPO could still change. The fundraising comes as the firm is weighing a Hong Kong initial public offering, the people said. The firm, which is backed by Alibaba Health Information Technology Ltd., is considering raising between $200 million and $300 million, said one of the people, who asked not to be identified discussing private information. (Bloomberg) - LinkDoc Technology Ltd., a Chinese medical data company, is seeking to raise money in a private fundraising, according to people familiar with the matter, after suspending plans for a July U.S.
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