HONG KONG: Following Beijing’s crackdown on overseas listings, Chinese medical data firm LinkDoc Technology Ltd has shelved its plans to list in the United States in order to raise up to US$211 million, according to three persons with direct knowledge of the situation. LinkDoc, a Chinese medical data solutions provider, filed for an IPO in the United States last month and was set to price its shares after the U.S. market closed on Thursday.
The decision comes after Beijing announced on Tuesday that it will enhance oversight of all Chinese companies listed abroad, a major regulatory shift that sparked a sell-off in Chinese stocks listed in the United States.
Because the material has not yet been made public, the sources declined to be identified.
LinkDoc, based in Beijing, did not respond to a request for comment right away.
(Scott Murdoch and Kane Wu contributed reporting; Sumeet Chatterjee and Christopher Cushing edited the piece.)
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Reuters is the source of this information./n
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