#Didi keep ximalaya linkdoc us ipotimes professional

Just one day later, the government announced that the “Didi Chuxing” app had been removed from digital stores due to alleged illegal collection and use of personal information. However, less than 48 hours after its listing, Didi was reviewed by Chinese authorities on the grounds of preventing national data security risks and safeguarding public interests. The ride-hailing firm’s IPO price was set at $14 per share, raising at least $4.4 billion, and closed up 15.98% to reach $16.4 the next day, with a market value of $78.6 billion. Pandaily previously reported that Didi was officially listed on the NYSE on the evening of June 30, under ticker symbol “DIDI”. The platform currently boasts more than 400 million registered users.

#Didi keep ximalaya linkdoc us ipotimes professional

Ximalaya, or Xima FM, is a professional audio sharing platform used widely in China, which provides consumers with best-selling international audio books, English courses taught by world-renowned professors, Chinese courses for industry experts, and more. Keep is a fitness app with various social networking attributes, and has amassed more than 200 million users. SEE ALSO: Didi’s Mini Programs Removed from WeChat and Alipay, Affecting Its Business Prior to this, on June 11 government officials tested the collection and use of personal information by a range of widely-used apps,notifying 129 of them, including Keep, of their illegal harvesting and use of user data. The developments have already had a strong impact on other companies preparing to list publicly in the United States. In July, 2021, Chinese authorities issued a circular calling for the removal of the “Didi Chuxing” app, then carried out network security reviews on “Yunmanman,” “Huochebang” and “BOSS Zhipin” to ensure accordance with the law. Each ADS is equivalent to four common shares, with the issue price ranging from $17.5 to $19.5.Īccording to CareerIn, citing people familiar with the matter, in the future overseas listings of Chinese companies, including offshore entities, will increasingly be brought under the supervision of China Securities Regulatory Commission. Pandaily previously reported that LinkDoc had originally prepared to list on the Nasdaq on July 9, under ticker symbol “LDOC,” where it planned to issue 10.8 million American Depository Shares (ADS). 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. 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. On May 1, Ximalaya submitted an IPO application to the SEC, with Goldman Sachs, Morgan Stanley, Bank of America and CICC acting as joint underwriters. On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. All Rights Reserved.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.

LinkDoc Technology is now planning to lead a $200 to $300 million financing round before its upcoming IPO in Hong Kong, according to Bloomberg. LinkDoc Technology Limited, a medical data platform company backed by Alibaba, was the first to scrape its IPO plan in the U.S. 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. Securities and Exchange Commission is also issuing new disclosure requirements, asking Chinese companies to reveal their use of variable interest entities (VIEs) to investors. Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US. Yet the pressure for Chinese tech companies doesn't stop there - the U.S. IPO plans since July.Īccording to Reuters, China is currently framing new regulations to ban IPOs outside of the country for tech companies with data security risks. Under pressure from regulators and distrust from investors, many Chinese companies such as Xiaohongshu, a social commerce platform backed by Alibaba and Tencent Keep, a fitness app backed by Tencent and Ximalaya, have either dropped or suspended their U.S. IPO plan and list in Hong Kong instead since May. Amid a cybersecurity probe, Chinese authorities have pressured Ximalaya to drop its U.S. Ximalaya has previously suspended its IPO plan after DiDi's disastrous IPO in July. Thursday, Ximalaya, one of China's most prominent audio streaming platforms backed by Tencent, said it will drop its IPO plan in the United States filed in April.

Ximalaya drops US IPO plan amid China's crackdown on overseas listing Septem3:59 pm Ximalaya drops US IPO plan amid China's crackdown on overseas listing - PingWest English 中文