On-demand logistics and delivery firm Lalamove has also contemplated a similar move. Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijings clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. IPO to Hong Kong, Bloomberg News reported last month. J&T Express, an Indonesian courier company with significant operations in China, is weighing moving its planned U.S. and China have cast doubt on the plans of a slew of companies seeking to raise capital in New York from share sales. Its investors, besides Alibaba Health, include MBK Partners, New Enterprise Associates and Temasek Holdings Pte., according to the preliminary filing in the U.S.
China is moving to plug regulatory gaps with new rules requiring nearly all companies seeking to list abroad to undergo a cybersecurity review. IPO plans following Beijing’s crackdown on overseas listings. LinkDoc was one of a steady stream of money-losing but fast-growing tech companies to file for US listings, seeking to raise around 200 million through its IPO. It pulled its listing plan at the last moment blaming market volatility, Bloomberg News reported in July, with the firm becoming the first known Chinese aspirant to halt its U.S. All that said, let’s return first to LinkDoc, including a review of the bumpy road that brings us to the present, before looking at some of the other listings also in limbo. LinkDoc was slated to raise as much as $211 million from the U.S. A representative for LinkDoc did not immediately respond to requests for comment. Deliberations are ongoing and no decision has been reached, they said, adding the plan and details of the pre-IPO round and the Hong Kong IPO could still change.
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The fundraising comes as the firm is weighing a Hong Kong initial public offering, the people said. China-based government hackers have exploited a bug in Microsofts email server software to target U.S. The firm, which is backed by Alibaba Health Information Technology Ltd., is considering raising between $200 million and $300 million, said one of the people, who asked not to be identified discussing private information. (Bloomberg) - LinkDoc Technology Ltd., a Chinese medical data company, is seeking to raise money in a private fundraising, according to people familiar with the matter, after suspending plans for a July U.S.
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