![]() The Nasdaq Golden Dragon China model, which tracks 98 Chinese companies listed in the United States, has fallen 4.7% since the first salvo by an internet agent.ģ7 Chinese companies have held IPOs in the United States this year, raising a total of $ 12.6 billion, according to Dealogic. ![]() Three companies that have been listed in New York in recent weeks – Didi, a freight forwarding network for the entire Truck Cooperation Network and online employers in Kanzhun – are being investigated for their customer data handling by the Chinese Online Administration.Ī series of ads from agents since Friday has erased billions of dollars in market value from the three, as well as other Chinese companies sold in American markets. legal.Ĭhinese authorities announced Tuesday evening that the rules on foreign lists will be amended and regulatory control of companies selling in coastal markets has increased. Later on Wednesday, the Chinese State Administration for Market Control announced 22 fines of 500,000 yuan ($ 77,000) antimonopoly fines each to the company including travel operator Didi, Alibaba, Tencent Holdings and for completing unauthorized purchases. President Brian Gu told CNBC that the list was part of a “restraint against geographical risks.” Shares closed the day unchanged from their Hong Kong offer price. Xpeng, a Chinese electric car manufacturer who went public with New York Stock Exchange last August, on Wednesday added a list of “two bases” in Hong Kong after collecting $ 1.8 billion through a stock sale in the city. Shares in the Hong Kong Exchanges & Clearing market operator have risen 6.6% over the past two days with investors expecting higher fee earnings from the new list. In the end, they want to list them closer to home. “The authorities do not want to stop these companies from getting capital. “China’s move is aimed at controlling where companies can list,” said a bank in Hong Kong that works on previous public editions. While American capital markets are fierce when it comes to the level and diversity of their investors and the number of similar counterparts, the abolition of Beijing, as well as the reform of the Hong Kong Stock Exchange and the huge liquidity in the city, make it attracting alternatives, analysts and investors say. LinkDoc on Wednesday updated its sales prospects, reporting risks from Beijing’s new directives on overseas IPOs. LinkDoc, a medical data company backed by Alibaba Health Information Technology, has suspended its first public delivery to the United States at the last minute, two people familiar with the operation said Thursday. ![]() edition to respond to potential risks from home managers, following the first public edition of Didi Global. The crackdown is already prompting Chinese companies in the middle of the U.S. listing by a Chinese firm on record, after Alibaba Group Holding Ltd.’s $25 billion blockbuster debut in 2014.HONG KONG – Moving with China to control the list and its companies in the US markets is set to direct a large part of the IPO flow to Hong Kong, as the thirst of capital-thirsty technology companies and financiers hopes to profit from their investment remains strong. this year, according to data compiled by Bloomberg. Its investors include Alibaba Health Information Technology Ltd., MBK Partners, New Enterprise Associates and Temasek Holdings Pte according to a preliminary filing.Ĭhinese companies have raised about $13 billion through first-time share sales in the U.S. LinkDoc, founded in 2014, provides cancer focused health-care services built on big data and artificial intelligence, its website shows. ![]() A representative for LinkDoc declined to comment. Reuters reported LinkDoc’s IPO halt earlier Thursday. LinkDoc’s IPO delay also comes as regulators in Beijing are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, Bloomberg News reported this week. ![]()
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