The Financial Times reported on Thursday that Keep, a Chinese sports-oriented social platform, and Ximalaya, the largest podcast platform in China, have both cancelled previous IPO plans in the United States during recent weeks.
The US Securities and Exchange Commission also began issuing new disclosure requirements to Chinese companies who are looking to list in New York, in an effort to boost investor awareness on the risks involved, Reuters reported in August. Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US. Last month, Reuters reported that China was framing rules to ban Internet companies whose data poses potential security risks from listing outside the country. Ximalaya, backed by China's Tencent Holdings, had filed for an IPO in April.Ĭhinese and US regulators alike have been tightening their grip on US listings of Chinese tech firms over the past few months. 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. The move comes after Reuters reported in May that China was pressing Ximalaya to drop its plans to list in the United States and go for Hong Kong instead, showing how authorities are seeking to further tighten their grip over private media and internet businesses. Securities and Exchange Commission (SEC) also began issuing new disclosure requirements to Chinese companies who are looking to list in New York, in an effort to boost investor awareness on the risks involved, Reuters reported in August.China's largest online audio platform Ximalaya said on Thursday (Sep 9) it had decided not to proceed with its plans for an initial public offering (IPO) in the United States. The firm, worth at least 180 billion per a recent funding round, was mulling an offering in the United States or Hong Kong but paused after Chinese. Last month, Reuters reported that China was framing rules to ban internet companies whose data poses potential security risks from listing outside the country. According to reporting from The Wall Street Journal, Chinese tech giant ByteDance decided to delay its much-anticipated IPO earlier this year at the urging of regulators in Beijing. listings of Chinese tech firms over the past few months. regulators alike have been tightening their grip on U.S. Ximalaya, backed by China's Tencent Holdings, had filed for an IPO in April.Ĭhinese and U.S. The move comes after Reuters reported in May that China was pressing Ximalaya to drop its plans to list in the United States and go for Hong Kong instead, showing how authorities are seeking to further tighten their grip over private media and internet businesses. The inventory of companies that scaled early and rapidly is (as of September 22, 2019) comprised of 311 companies that we believe were founded after Decemand are valued at 1 billion USD or more. (Reuters) -China's largest online audio platform Ximalaya said on Thursday it had decided not to proceed with its plans for an initial public offering (IPO) in the United States. Get inside Wall Street with StreetInsider Premium.
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