Ximalaya shelves US IPO after Beijing crackdownReutersReutersChina’s largest online audio platform, Ximalaya (喜馬拉雅), on Thursday said it would not proceed with its plans for an initial public offering (IPO) in the US. Medical data group LinkDoc Technology Ltd (零氪科技) in July was the first Chinese company to shelve an IPO in the US due to Beijing’s clampdown on overseas listings by domestic firms. Ximalaya, backed by China’s Tencent Holdings, had filed for an IPO in April. Chinese and US regulators have been tightening their grip on US listings of Chinese tech firms over the past few months. Last month, Reuters reported that China was framing rules to ban Internet companies whose data poses potential security risks from listing outside the country.

Source: Taipei Times September 10, 2021 15:56 UTC