listing by a Chinese firm on record, after Alibaba Group Holding Ltd.’s $25 billion blockbuster debut in 2014. this year, according to data compiled by Bloomberg. Its investors include Alibaba Health Information Technology Ltd., MBK Partners, New Enterprise Associates and Temasek Holdings Pte according to a preliminary filing.Ĭhinese companies have raised about $13 billion through first-time share sales in the U.S. LinkDoc, founded in 2014, provides cancer focused health-care services built on big data and artificial intelligence, its website shows. A representative for LinkDoc declined to comment. LinkDoc’s move comes after the US 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. Reuters reported LinkDoc’s IPO halt earlier Thursday. Linkdoc, which is backed by Alibaba Health Information, had been due to price the deal today, determining how much money it would raise. LinkDoc’s IPO delay also comes as regulators in Beijing are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, Bloomberg News reported this week. plunged after the government ordered the removal of the ride-hailing giant’s app from local app stores within days of its $4.4 billion U.S. were arranging the deal.Ĭhinese technology stocks suffered a rout after China signaled a new era of tighter oversight over cybersecurity. LinkDoc was slated to price the offering on Thursday, which could have raised as much as $211 million. Market volatility has played a part in the postponement and the Beijing-based medical data company could revisit its listing plans when conditions improve, said one of the people, who asked not to be identified as the information is private. initial public offering, people familiar with the matter said, the first known company to pull out of a debut after China’s government cracked down on overseas listings.
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