![]() securities regulator it was officially abandoning its original New York listing plan first announced in March. That’s what’s happening at leading podcast platform Ximalaya Inc., which filed this week to list shares in Hong Kong after informing the U.S. ![]() ![]() It’s quite likely many could end up floating up closer to home in Hong Kong or even on the Chinese mainland itself. It will make a final decision about the listing venue within the next two weeks, they added.What will happen to the roughly half-dozen Chinese IPOs that got yanked from New York earlier this year amid growing pressure from both Washington and Beijing? The CAC and Ximalaya did not respond to requests for comment. HONG KONG China’s largest online audio platform Ximalaya will file for its Hong Kong initial public offering (IPO) next week after dropping its plans to list in the United States, according. The Cyberspace Administration of China on Sunday banned Didi from app stores after saying it posed a cybersecurity risk for customers. Shanghai-based Ximalaya, which filed publicly for the U.S. From May 22, Didi’s ride-hailing drivers in Latin America will need to take a selfie with mask on to pass the AI verification, and from June they will need to report their body temperature to. 'Didi Chuxing app is found to have severely violated the laws. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. One of the sources said the regulatory uncertainty affected both the company and investors. LinkDoc filed for an initial public offering in the United States last month and was due to price its shares after the U.S. HONG KONG Chinese medical data group LinkDoc Technology has called off its U.S. Ximalaya plans to seek an initial public offering in Hong Kong, scrapping plans to go public in the US after Beijing implemented new rules for overseas listings. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. 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. China is pressing the country's largest online audio platform Ximalaya to drop plans to list in the United States and go for Hong Kong instead, three people with knowledge of the matter said, showing how the authorities are seeking to further tighten their grip over private media and internet businesses. The company planned to raise up to 210 million on the tech-heavy. Ximalaya, the country's top podcast and audio app operator which aimed to go public in New. ![]() Regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data.
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