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There are uncertainties about how quickly “legislative or administrative regulatory authorities will react and which existing or new laws or regulations or detailed implementations and interpretations will be changed or promulgated,” it said. On Wednesday, the company updated its prospectus, highlighting risks from Beijing’s new policy on overseas IPOs.

LinkdDoc, founded in 2014, applied for an IPO last month. The S & P500 index rose 0.9% over the same period. Growing regulatory crackdown has seen investors avoid Chinese stocks in the US The Nasdaq Golden Dragon China Index, which tracks 98 US-listed Chinese companies, has fallen 7.9% since the cyberspace agency’s first volley. The Chinese authorities also announced on Tuesday that the rules for foreign listings will be revised and regulatory oversight of companies trading in offshore markets will be strengthened.

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LinkDoc’s move comes after the US market debut of Chinese ride-hailing operator Didi Global, which raised $ 4.4 billion in one of the largest corporate public offerings in China in New York in years, through Beijing’s intervention was shaken.Ĭhina’s cyberspace agency announced an investigation into Didi’s use of customer data, banning Didi from acquiring new customers, losing its shares and removing billions of dollars from its valuation just days after the listing.īeijing later expanded its investigation to include two other companies listed in the United States – logistics company Full Truck Alliance and online recruiter Kanzhun. Linkdoc, backed by Alibaba Health Information, had set the price of the deal today and determined how much money it would raise. However, market volatility, regulatory uncertainty and fears of angering Chinese regulators have led the company to cancel the offer, one of the people said. The company planned to raise up to $ 210 million on the tech-heavy Nasdaq exchange and closed its books on the deal on Wednesday after apparently strong demand. HONG KONG – Chinese medical data giant LinkDoc Technology canceled its IPO in the US at the last minute, two people familiar with the deal said, becoming the first victim of Beijing’s crackdown on foreign listings.

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