The Chines fitness app and SoftBank however declined to comment on the alleged foiled IPO plans.
This development is the latest blow for SoftBank, which holds a 20% stake in Didi, making it the largest shareholder. Shares of the Japanese bank shares fell 5% yesterday after news of China regulators investigating, stopping new registrations to its app in the process.
SOURCES KEEP LINKDOC IPOTIMES FULL
The bank is also an investor in Full Truck Alliance, another US-listed tech company under investigation by the Chinese data watchdog.HONG KONG - Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States following Beijing's clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. It is the first known Chinese firm to pull back from its IPO plans since the crackdown began last week with an investigation by China's cybersecurity regulator into ride-hailing giant Didi Global Inc just two days after it made its New York debut.īeijing said on Tuesday that it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks.
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