Sources didi ximalaya linkdoc us ipotimes
#Sources didi ximalaya linkdoc us ipotimes professional#
It offers users a platform to access free or paid content from roughly 5.2 million professional or amateur content creators. In the first quarter of 2021, Ximalaya had about 250 million monthly active users, nearly a fifth of China’s population, according to the filings. Ximalaya is backed by tech majors Tencent, Xiaomi, Baidu as well as Sony Music Entertainment, according to its initial U.S. Reuters reported last month that China is framing rules to ban companies involved in ideology issues from listing outside the country, including in the United States. The decision to turn to Hong Kong over the United States comes as Chinese authorities further tighten their ideological grip on private media and internet businesses amid China-U.S. listing plans and go public in Hong Kong instead. Reuters reported in May that Ximalaya, the country’s top podcast and audio app operator, had been pushed by China’s regulators, including the Cyberspace Administration of China (CAC), to withdraw its U.S. Medical data group LinkDoc Technology Ltd in July became the first Chinese company to shelve plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms. Ximalaya did not respond to a request for comment. The company aims to debut in Hong Kong by the end of the year, said one of the sources. But two of them said the company is targeting a larger amount than the $500 million they had planned to raise in a U.S. The size of the float has not been determined, according to the sources. All three sources with direct knowledge of the matter could not be named as the information has not been made public. Instead, it will press ahead with a Hong Kong listing and lodge its preliminary prospectus as early as Monday, two of the sources said. IPO, which Reuters reported in May aimed to raise about $500 million. 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.
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The Shanghai-based company announced on Thursday it would not proceed with its U.S. Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.Details: Keep did not go ahead with its planned public filing while its bankers at Morgan Stanley canceled marketing meetings with investors this week, Financial Times reported, citing people familiar with the matter. HONG KONG (Reuters) -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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HONG KONG (Reuters) – 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 to three sources with direct knowledge of the matter.