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Its main platform, called LinkCare, integrates online and offline channels to assist patients, especially those suffering from cancer, to better manage their illnesses in and out of hospital. But it abruptly scrapped the plan at the 11th hour as China’s cybersecurity regulator was targeting a growing number of companies for data security reviews.įounded in 2014 and backed by e-commerce giant Alibaba’s healthcare arm, Alibaba Health Information Technology (0241.HK), LinkDoc garners and processes large volumes of medical data for conducting research on new drugs and patient care, with a special focus on cancer treatments. listings, seeking to raise around $200 million through its IPO. LinkDoc was one of a steady stream of money-losing but fast-growing tech companies to file for U.S. Accordingly, it is increasingly making exceptions and allowing such companies to list, in its own bid to diversify beyond the types of real estate and manufacturing companies that were its traditional bread and butter.Īll that said, let’s return first to LinkDoc, including a review of the bumpy road that brings us to the present, before looking at some of the other listings also in limbo. But Hong Kong has its own obstacles, most notably tough profitability requirements that would normally disqualify a money-losing company like LinkDoc.īut the Hong Kong Stock Exchange has shown growing flexibility in the last few years to accommodate this kind of high-tech, high-growth company.

IPO application means LinkDoc has begun the early confidential steps for a Hong Kong IPO that could soon lead to its first public filing. IPOs around the same time and have gone silent since then? At least one such plan appears to still be moving forward, which we’ll describe shortly.Ī potential alternative for LinkDoc and the others could be Hong Kong listings, and it’s quite possible the formal withdrawal of its U.S. listing now formally dead, the big questions are: What will LinkDoc do next, and what’s ahead for the handful of other Chinese companies that had filed for U.S.

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“In light of the current capital markets condition, the company is considering other alternatives and has determined not to proceed at this time with the offering and sale of the securities proposed to be covered by the registration statement,” LinkDoc said in a brief statement accompanying its withdrawal notice dated April 11. Readers might recall this company had the misfortune of trying to list at the height of a storm centered on the Uber-like DiDi Global (NYSE:DIDI) over data security concerns from China’s cybersecurity regulator. securities regulator last week it was withdrawing its IPO application first filed last June. Medical big data firm LinkDoc Technology Ltd. has formally signaled the end of its hopes for a U.S. listings could revive their plans in the second half of this year as last year’s regulatory turmoil shows signs of receding Three other Chinese companies with pending U.S.IPO, nine months after its 11th hour halt to the listing LinkDoc has formally withdrawn its plan to raise $200 million from a U.S.

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