![]() Morgan Stanley, BofA Securities and CICC are the underwriters for the proposed IPO. The company will list on the Nasdaq under the symbol "LDOC", it said.Īlibaba Health is the healthcare flagship platform for the Alibaba Group Holding Ltd conglomerate. LinkDoc said it will use the proceeds from the offering to strengthen its research and development capacities and for investments and acquisitions, among others. introducing measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the country's auditing standards. The company's listing plans come despite the U.S. The Beijing-based company, which offers cancer-focused healthcare services, reported a 41% jump in revenue for the three months ended March 31, according to the filing.įor the same period, net loss attributable to LinkDoc widened to 135.4 million renminbi ($21.17 million) from 61.6 million renminbi a year earlier. The case examines how LinkDoc, specializing in big data and serving the vertical healthcare industry, found its own answers to these issues and, more specifically, how it identified and entered. The company will list on the Nasdaq under the symbol 'LDOC'.(File Photo) ![]() Morgan Stanley, Bank of America, and China International Capital Corp Ltd were the investment banks on the deal and all declined to comment to Reuters.LinkDoc Technology Ltd, a medical data company backed by a subsidiary of Alibaba Health Information Technology Ltd, filed for an initial public offering in the United States on Monday. LinkDoc did not immediately respond to a request for comment. The sources declined to be identified as the information has not yet been made public. The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. It had planned to sell 10.8 million shares between US$17.50 and US$19.50 each. “The new rules may impose long waiting periods on any companies hoping to list abroad which will hit investor sentiment, depress valuations for IPOs in the US and make it more difficult to raise funds overseas,“ he said.īacked by Alibaba Health Information Technology Ltd, LinkDoc filed for its IPO last month and was due to price its shares after the US market close on Thursday. “For companies applying for a US listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities,“ said Bruce Pang, macro & strategy research head at China Renaissance Securities. ![]() LinkDoc's decision to suspend its US$211 million (RM882.2 million) IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that US listings were not barred per se. ![]() That was soon followed with an order for Didi's app be removed from app stores.īeijing also said on Tuesday it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in US-listed Chinese stocks. It is the first Chinese firm known to have pulled back from IPO plans since China's cybersecurity regulator toughened its approach to oversight last week with an investigation into ride-hailing giant Didi Global Inc just two days after its New York debut. LinkDoc Founded in 2014 and headquartered in Beijing, China, LinkDoc creates medical data solutions and tumor big data platforms to provide clinically structured data for Chinas tumor specialist hospitals and comprehensive tertiary hospitals. HONG KONG: Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. ![]()
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