- #SOURCES CHINABASED KEEP LINKDOC US IPOTIMES FULL#
- #SOURCES CHINABASED KEEP LINKDOC US IPOTIMES PLUS#
IPO is seen as an example of the great lengths the Chinese government will pursue, even if a company has a high-profile name and numerous foreign investors. “After communication with the relevant regulators, Ximalaya understands that a Hong Kong listing would be regarded as a preferred outcome,” the source told FT.Ĭhina’s crackdown on Didi following its U.S. The Chinese podcast platform Ximalaya recently suspended its U.S.
#SOURCES CHINABASED KEEP LINKDOC US IPOTIMES FULL#
The truck-hailing app Full Truck Alliance and online recruiter Boss Zhipin are two of the many Chinese companies that filed plans to go public in New York IPOs this year and are being subjected to intense scrutiny. The popular Chinese fitness app Keep is backed by Japan’s SoftBank and China’s Tencent and was looking to raise $500 million, sources told FT. IPO endeavors as Beijing intensified its policing of technology platforms in China. HONG KONG (Reuters) Chinese medical data group LinkDoc Technology Ltd has shelved its listing in the United States to raise up to 211 million following Beijing’s clampdown on overseas listings, according to three sources with direct knowledge of the matter. The news of LinkDoc ran parallel to the decision by Keep to pull its $500 million U.S. public listings are not forbidden, the move by LinkDoc is expected to spark a pull-out by additional Chinese companies with U.S. The move by officials prompted investors to unload Chinese stocks listed in the U.S.Īnalysts told Reuters that despite the fact that U.S. LinkDoc is likely the first Chinese startup to have retreated from its IPO plans as China’s regulatory agencies stepped up Big Tech oversight. The move against Didi from Chinese regulators came just two days after it went public in the U.S. Sources told Reuters that LinkDoc was in the midst of filing for a $211 million initial public offering (IPO) in New York but scrapped the plans after Beijing pulled Didi from app stores and from payment platforms WeChat Pay and Alipay. Medical data firm LinkDoc Technology and digital fitness platform Keep have both pulled out following regulators’ probes into ride-hailing giant Didi Global, according to separate reports from the Financial Times and Reuters on Thursday (July 8). in light of China’s crackdown on domestic companies looking to list overseas. With the price tag in the $250 million range, it would mean a Steve buyout of his siblings and other family members would be the only money realized by the Scottish clan.Two Chinese startups suspended public listing plans in the U.S. It paid about $264 million for a 40 percent stake in the company way back in 2007. That may be the only way the family members will get any return, because their current partner in Forbes Media, Elevation Partners, hold preferred shares and would get paid first.Įlevation, headed by Roger McNamee, also counts Irish rocker Bono, of U2, as an investor. Some are speculating that Steve Forbes will get a private-equity backer to front the money so he can buy out the relatives. We aggregate information from all open source repositories.
#SOURCES CHINABASED KEEP LINKDOC US IPOTIMES PLUS#
Not clear is if Steve Forbes will buy out his three brothers, Timothy, Christopher and Robert, and sister Moira, plus their extended family partners - or if the Forbes family as a bloc would keep a stake. We have collection of more than 1 Million open source products ranging from Enterprise product to small libraries in all platforms. Speculation is that Forbes will keep up to 20 percent. It quoted sources saying the price tag will be in the $250 million range - far below the $400 million that Deutsche Bank, which is handling the sale, said in November it hoped to fetch.Īs Media Ink first reported, Steve Forbes may be staying on board with a minority stake.
One source said the deal could be announced as early as this week - or early next week.įosun is a diversified, closely-held conglomerate that last year purchased 1 Chase Manhattan Plaza for $725 million and already publishes the Chinese edition of the magazine.Ī report last week, in The Deal, had Fosun as the winner already. LinkDoc's decision to suspend its 211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that U.S. They may be brushing up on Mandarin inside the Forbes Media empire.Ĭhina-based Fosun International is now said to be in final negotiations to land Forbes and its related digital properties. Pickleball craze inspires new lifestyle magazine Kaitlan Collins’ missing Daily Caller bylines restored - but mystery remains
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