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Thirty-six Chinese companies have held IPOs in the U.S. The company, which provides cancer-focused health care services by relying on big data and artificial intelligence, had planned to sell 10.8 million shares priced between $17.50 and $19.50 each. Uncertainties exist on how soon “legislative or administrative regulation-making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated,” it said. On Wednesday, it updated its sale prospectus, flagging risks from Beijing’s new directive about overseas IPOs. LinkdDoc, which was founded in 2014, filed for the IPO last month. The S&P500 Index has risen 0.9% during the same time frame. The Nasdaq Golden Dragon China Index, which tracks 98 Chinese companies listed in the U.S., has fallen 7.9% since the first salvo by the cyberspace agency. The gathering regulatory clampdown has led investors to shun Chinese stocks in the U.S. Chinese authorities also announced on Tuesday that rules for overseas listings will be revised and regulatory oversight of companies trading in offshore markets stepped up.
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logistics company Full Truck Alliance and online recruiter Kanzhun. market debut of Chinese ride-hailing operator Didi Global, which raised $4.4 billion in one of corporate China’s biggest New York IPOs in years, was rocked by intervention by Beijing.Ĭhina’s cyberspace agency announced an investigation into Didi’s handling of customer data and barred it from signing up new customers, sending its shares tumbling and wiping billions of dollars from its valuation just days after its listing.īeijing later expanded its probe to two other companies that listed in the U.S. Linkdoc, which is backed by Alibaba Health Information, had been due to price the deal today, determining how much money it would raise. However, market volatility, regulatory uncertainty and fear of angering Chinese regulators have prompted the company to cancel the offering, one of the people said. The company planned to raise up to $210 million on the tech-heavy Nasdaq exchange and closed its books on the deal on Wednesday after apparent strong demand. initial public offering at the last minute, two people familiar with the transaction said, becoming the first casualty of Beijing’s clampdown on overseas listings. HONG KONG - Chinese medical data group LinkDoc Technology has called off its U.S.