![]() The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S. IPO endeavors as Beijing intensified its policing of technology platforms in China. The popular Chinese fitness app Keep is backed by Japan’s SoftBank and China’s Tencent and was looking to raise $500 million, sources told FT. The truck-hailing app Full Truck Alliance and online recruiter Boss Zhipin are two of the many Chinese companies that filed plans to go public in New York IPOs this year and are being subjected to intense scrutiny. The Chinese podcast platform Ximalaya recently suspended its U.S. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” the source told FT.Ĭhina’s crackdown on Didi following its U.S. IPO is seen as an example of the great lengths the Chinese government will pursue, even if a company has a high-profile name and numerous foreign investors.EXCLUSIVE LinkDoc becomes first Chinese firm to shelve U.S.
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