![]() Are Chinese stocks still a good investment?Ĭhinese stocks have been very popular with American investors and have provided great returns. This is a massive increase from the $1.9 billion raised in the first half of 2020. Within the last six months, an eye-popping $12.5 billion has been fundraised by Chinese stocks from 34 listings in the States. markets have represented a highly lucrative avenue for funding for Chinese companies. and were the basis of why he tried to ban Chinese-owned TikTok from the country. These claims over data privacy are very similar to the concerns former President Donald Trump expressed over Chinese companies coming to the U.S. will do with any data it collects from listing these companies. According to reports, China is worried about what the U.S. He also added that new rules might result in long waiting times for companies to list abroad which might hinder investment interest in the stocks, decrease valuations, and make it harder to raise capital. listing, they may have to wait for further clarification, stricter scrutiny and pre-approval from different regulators and authorities.” Macro and strategy research head at China Renaissance Securities, Bruce Pang, explained: LinkDoc was predicted to go public on Friday and was expected to sell 10.8 million shares priced between $17.50 and $19.50 each. The decision to postpone would have been a hard one for LinkDoc to make, given that its IPO was valued at $211 million. While China has not banned any firm from listing in the U.S., it is expected that many other companies who were hoping to go public in the states might also suspend their debuts to avoid scrutiny. As a result, there was a significant sell-off of U.S.-listed Chinese stocks, with Tencent Music Entertainment stock dropping over 9% on Tuesday, while JD.com, ( NASDAQ: TRIP), and Alibaba shares also slid. Then, on Tuesday, Beijing stated that it was going to heighten its supervision of any Chinese companies that listed offshore. The Chinese cybersecurity regulator shocked people when it ordered DiDi to remove its app from app stores. The medical data group is backed by Alibaba Health Information Technology. LinkdDoc is an oncology big data company based in Beijing that offers big data, AI assistant systems, patient management, along with many other services. The firm is the first known Chinese company to have pulled out of its IPO plans after ride-hailing company DiDi Global (NYSE: DIDI) was investigated two days following its market debut on Wall Street. after Beijing’s crackdown on overseas listings of Chinese-owned companies. Read all the Latest News, Breaking News and Coronavirus News here.LinkDoc Technology has decided to delay its plans for a market debut in the U.S. ![]() Morgan Stanley, BofA Securities and CICC are the underwriters for the proposed IPO. The company will list on the Nasdaq under the symbol “LDOC”, it said.Īlibaba Health is the healthcare flagship platform for the Alibaba Group Holding Ltd conglomerate. LinkDoc said it will use the proceeds from the offering to strengthen its research and development capacities and for investments and acquisitions, among others. ![]() introducing measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the country’s auditing standards. ![]() The company’s listing plans come despite the U.S. The Beijing-based company, which offers cancer-focused healthcare services, reported a 41% jump in revenue for the three months ended March 31, according to the filing.įor the same period, net loss attributable to LinkDoc widened to 135.4 million renminbi ($21.17 million) from 61.6 million renminbi a year earlier. LinkDoc Technology Ltd, a medical data company backed by a subsidiary of Alibaba Health Information Technology Ltd, filed for an initial public offering in the United States on Monday.
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