stock market to tap deep-pocketed investors, raising more than 100 billion in first-time share sales over the past two. Morgan Stanley, Bank of America, and China International Capital Corp Ltd (CICC) were the investment banks on the deal. Morgan Stanley and Bank of America declined to comment, while CICC did not respond to a Reuters request for comment. US capital markets have been a lucrative source of funding for Chinese firms in the past decade, especially for technology companies looking to benchmark their valuations against listed peers there and tap an abundant liquidity pool. It is the latest Chinese tech company to postpone its US initial public offering plans. Meanwhile, the seven English audiobooks of the Harry Potter series will also go online on Ximalaya on June 21, bringing more choices for listeners. So far this year, a record US$12.5 billion by Chinese firms has been raised from 34 US listings, Refinitiv data shows, well up from the US$1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the US later this year, a review of the filings showed. #Didi chinabased ximalaya linkdoc us ipotimes series# LinkDoc Technology, a medical data solutions provider and Ximalaya, China’s biggest podcast platform. Ximalaya is a popular online audio sharing platform in China. 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. In 2021, monthly active users reached 268 million. That was soon followed with an order for Didi's app be removed from app stores. #Didi chinabased ximalaya linkdoc us ipotimes series#.A few months before, bankers were celebrating their record haul experienced by taking several Chinese companies public in New York as well as Honk Kong however, they have had a rude awakening. Deals have started to be shelved, and investors are going through huge losses. The whole global finance has been deeply affected only within a fortnight before which China had first cracked down on its Uber-like Didi deal right after U.S. CHINABASED XIMALAYA LINKDOC US IPOTIMES CRACKED This was closely followed by a State Council statement announcing closer scrutiny of all offshore listings. On July 10, a cyber-security review was suggested for companies that have data on more than One Million users before they have permission to list in foreign countries. The red flag has been waving for some time now. In particular, with underwriters collected a record US$1.5 billion (S$2.03 billion) as a total fee in the last year. Collections consist of help provided to Chinese firms with IPOs (Initial Public Offerings) offshore, with relations between China and United States being at low ebb. In December, then-President Donal Trump had signed a bill that empowered authorities to delist Chinese companies if they didn’t meet audit inspections. At the same time, Chinese President Xi Jinping stepped up the oversight of tech giants, mainly as they store a huge amount of data. The actions of both countries have put frenetic deals done in the midst of the COVID-19 pandemic into great peril. They were further affecting the lucrative business of offshore listings that have managed to accumulate around US$6.4 billion in fees since 2014.
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