Pony.ai CEO James Peng told Reuters in June that the company was considering going public in the United States to help fund its goal of commercializing driverless ride-hailing services. He provided no details of how this would happen. SPACs, which raise money through their IPOs to buy private companies within a certain time frame, have become a popular way for self-driving tech companies to go public. In May, Plus, an autonomous truck company with operations and partnerships in China, clinched a deal to go public through a $3.3 billion merger with Hennessy Capital Investment Corp V, before China's technology crackdown. That deal is still expected to close by the third quarter. Pony.ai, which develops and tests its autonomous driving vehicles in the United States and China, said in November that its valuation reached $5.3 billion after raising more than $1 billion in funding. In June, the company hired Lawrence Steyn, vice chairman of investment banking at JPMorgan Chase & Co, as its chief financial officer to prepare for a public listing. VectoIQ II is the second SPAC to be led by former General Motors Vice Chairman Steve Girsky, whose first SPAC struck a deal with electric truck maker Nikola Corp. It raised $345 million in an oversubscribed IPO in January. (Reporting by Krystal Hu in New York, Kane Wu and Julie Zhu in Hong Kong, Yilei Sun in BeijingAdditional rerporting by Hyunjoo Jin in Berkeley, Calif.LinkDoc Technology, a Chinese healthcare data company specializing in oncology patients, postponed its IPO on Thursday. ![]() The company had been expected to price its IPO on Thursday night. It had filed to raise $200 million by offering 10.8 million shares at a price range of $17.50 to $19.50. Insiders and anchor investors had indicated an interest in buying 58% of the deal. Listings, Refinitiv data shows, well up from the $1.9 billion from 14 deals in the same period a year ago.Įight Chinese companies including home service platform Daojia Ltd and Atour Lifestyle Holdings have made public filings with the Securities and Exchange Commission (SEC) to list in the U.S.On Wednesday, LinkDoc filed an amendment where it added risks related to China's new capital markets regulation and oversight, which had been issued by the country's regulator the day before. HONG KONG (Reuters) -Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms. In June 2021, the worst-case became a reality for the Education sector. later this year, a review of the filings showed. Later banned the company from taking on new. The tougher stance by the Cybersecurity Administration of China has been driven in part by concerns that the United States could gain greater access to data owned by Chinese firms – similar to concerns that the previous Trump administration had voiced about Chinese firms operating in the United States. In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. LinkDoc Technology Ltd has suddenly shelved an IPO that was set to raise up to 211 million in the US, according to sources who spoke to Reuters and Nikkei. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing’s concerns that U.S. The company, which is reportedly backed by Alibaba, filed for an IPO last month and was due to set a price for its shares later today (Thursday July 8). Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US. LinkDoc Technology, which is a China-based company that leverages sophisticated data technologies for oncology patients, was expected to pull off its IPO last week. regulators will potentially gain more access to audit documents of New York-listed Chinese companies.Īnalysts also note the tougher stance coincides with new U.S. ![]() The Financial Times reported on Thursday that Keep, a Chinese sports-oriented social platform, and Ximalaya, the largest podcast platform in China, have both cancelled previous IPO plans in the United States during recent weeks. ![]() Didi and two other Chinese app operators have been blocked from signing up new customers shortly after they sold shares to investors in the United States, as I outlined on Monday. ![]() On the same day, Reuters reported that LinkDoc, a Chinese medical technology company, had also shelved its IPO plan. Regulations being rolled out that could see Chinese companies delisted if they do not comply with U.S.
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