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BABA - LinkDoc Formally Withdraws Its U.S. IPO. Next Stop Hong Kong?
Alibaba Group Holding Limited American Depositary Shares each representing one
LinkDoc has formally withdrawn its plan to raise $200 million from a U.S. IPO, nine months after its 11th hour halt to the listing.
Three other Chinese companies with pending U.S. listings could revive their plans in the second half of this year as last year’s regulatory turmoil shows signs of receding.
LinkDoc’s decision to abandon the U.S. probably owes to two major factors: its urgent need of cash and also its realization that it might need to get a data security review before making such a listing.