#Sources didi keep linkdoc us full#
#Sources didi keep linkdoc us software#

Goldman Sachs, Morgan Stanley and JPMorgan are at the top of the league table for deal volume, according to the data. Investment banking fees from Chinese offerings were worth $485.8 million so far in 2021, Refinitiv data shows. Wall Street banks, which have benefited from Chinese firms' rush to list in New York in recent years, are also expected to take a hit on their fee income in the near-term, according to bakers. LinkDoc did not immediately respond to a request for comment. There has been no change to that time table yet, according to two sources with direct knowledge. LinkDoc Technology Ltd which is described as a Chinese medical data solutions provider, is currently raising up to $211 million in a US IPO and is due to price its shares after the US market closes Thursday. While the latest crackdown has dimmed the outlook for large Chinese IPOs in New York, not all companies are rushing to pull their ongoing offerings just yet.

The measures come as the US securities regulator in March began rolling out new regulations that could see Chinese companies delisted if they do not comply with US auditing rules. 'It's a clear signal that the Chinese government is not particularly happy that these firms continue to decide to raise capital in the west,' said Jordan Schneider, a technology analyst at research firm Rhodium Group.

#Sources didi keep linkdoc us full#

The CAC also announced probes into Kanzhun Ltd's online recruiting app Zhipin and truck hailing company Full Truck Alliance. It was the largest Chinese IPO in the US since e-commerce giant Alibaba Group raised $25 billion in 2014.įor investors, the euphoria was shortlived, with Didi's shares diving 27% since its debut on June 30. Chinese fitness app Keep chose not to proceed with its filing, according to the Financial Times, and vegetable delivery app Meicai put its listing on hold, the South China Morning Post reported.The broader regulatory clampdown and Didi's listing dustup drove the S&P/BNY Mellon China Select ADR Index, which tracks the American depositary receipts of major US-listed Chinese companies, down 3.4% on Tuesday.Ĭatching many investors, and Didi, off-guard, the Cyberspace Administration of China (CAC) on Sunday ordered the ride-hailing firm to remove its apps from app stores in China for illegally collecting users' personal data, less than a week after it made its debut on the New York Stock Exchange following its $4.4 billion initial public offering.

Several have scuppered their plans already, starting with LinkDoc Technology which pulled a New York float the day it was expected to price, Bloomberg News reported. Lalamove would be among the first firms that have filed confidentially in the US to re-route to Hong Kong as a result of China's regulations tightening. The regulations would require companies with over one million users' data to submit to a cyber security review.

#Sources didi keep linkdoc us software#

The fallout from the US$4.4 billion US IPO by China's Didi Global has thrown listing plans into disarray, after Chinese regulators barred the company's software from app stores and proposed new rules for similar firms listing overseas. A representative for Lalamove said the firm continues to pay attention to capital markets but has no specific timeline and venue for an IPO. Deliberations are ongoing and Lalamove could still decide to proceed with its US IPO, they said.