Exclusive: China's LinkDoc shelves $211 million US IPO after regulatory crackdown

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FILE PHOTO: A nearly empty trading floor is seen at the New York Stock Exchange (NYSE) in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid/File Photo

HONG KONG (Reuters) – Chinese medical data group LinkDoc Technology Ltd has shelved its listing in the United States to raise up to $211 million following Beijingโ€™s clampdown on overseas listings, according to three sources with direct knowledge of the matter.

LinkDoc, which is described as a Chinese medical data solutions provider, filed for an initial public offering (IPO) in the United States last month and was due to price its shares after the U.S. market closes Thursday.

The move comes after Beijing on Tuesday said that it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks.

The sources declined to be named as the information has not yet been made public yet.

Beijing-based LinkDoc did not immediately respond to a request for comment.

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