#Sources keep ximalaya linkdoc ipotimes professional#

#Sources keep ximalaya linkdoc ipotimes professional#

It offers users a platform to access free or paid content from roughly 5.2 million professional or amateur content creators. Quantum computing, IPOs, startups, future companies, business models, venture capital deals, research & papers, global news coverage, etc. In the first quarter of 2021, Ximalaya had about 250 million monthly active users, nearly a fifth of China’s population, according to the filings. Ximalaya is backed by tech majors Tencent, Xiaomi, Baidu as well as Sony Music Entertainment, according to its initial U.S. Reuters reported last month that China is framing rules to ban companies involved in ideology issues from listing outside the country, including in the United States. The decision to turn to Hong Kong over the United States comes as Chinese authorities further tighten their ideological grip on private media and internet businesses amid China-U.S. listing plans and go public in Hong Kong instead. Reuters reported in May that Ximalaya, the country’s top podcast and audio app operator, had been pushed by China’s regulators, including the Cyberspace Administration of China (CAC), to withdraw its U.S. HONG KONG (Reuters) China is pressing the country’s largest online audio platform Ximalaya to drop plans to list in the United States and go for Hong Kong instead, three people with knowledge of the matter said, showing how the authorities are seeking to further tighten their grip over private media.

Ximalaya did not respond to a request for comment. The company aims to debut in Hong Kong by the end of the year, said one of the sources. But two of them said the company is targeting a larger amount than the $500 million they had planned to raise in a U.S. The size of the float has not been determined, according to the sources. All three sources with direct knowledge of the matter could not be named as the information has not been made public. Instead, it will press ahead with a Hong Kong listing and lodge its preliminary prospectus as early as Monday, two of the sources said. It is the first Chinese firm known to have pulled back from IPO plans since China's cybersecurity regulator toughened its approach to oversight. IPO, which Reuters reported in May aimed to raise about $500 million. 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, according to three sources with direct knowledge of the matter. The Shanghai-based company announced on Thursday it would not proceed with its U.S. HONG KONG (Reuters) – China’s largest online audio platform Ximalaya will file for its Hong Kong initial public offering (IPO) next week after dropping its plans to list in the United States, according to three sources with direct knowledge of the matter.