The book closed one day earlier than planned on Wednesday, one of the three sources and a separate person said. (Market Chatter news is derived from conversations with market professionals globally. It had planned to sell 10.8 million shares between US17.50 and US19.50 each. Sources told the news outlet that LinkDoc's decision was due to the crackdown.
Reuters said LinkDoc is the first known Chinese company to withdraw its IPO plan since Beijing's crackdown spoiled Didi Global's debut on the New York Stock Exchange last week. Under new guidelines issued by the State Council and the Communist Party of China, authorities will strictly implement the mandatory delisting system for Chinese companies.
#Sources didi linkdoc us crack#
On Tuesday, China vowed to crack down on "illegal securities activities" to maintain the order of the capital market. The shares end their first day of trading slightly above the IPO price. However, US listings by Chinese firms were recently overshadowed by tighter regulatory measures at home. June 30 - Didi raises 4.4 billion in its IPO, pricing it at the top of its indicated range and increasing the number of shares sold, giving it a valuation of 73 billion on a fully diluted basis and 67.5 billion on a non-diluted basis. The company, backed by Alibaba Health Information Technology (HKG:0241), had set its price range for its planned Nasdaq listing on July 1, seeking to raise as much as $211.1 million. Chinese online healthcare company LinkDoc Technology has shelved its planned initial public offering in the US as Beijing launched a crackdown on foreign-listed Chinese firms, Reuters reported Thursday, citing three sources with direct knowledge of the matter.
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