Medical big data firm LinkDoc Technology Ltd. has formally signaled the end of its hopes for a U.S. listing, informing the U.S. securities regulator last week it was withdrawing its IPO application first filed last June. 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 (DIDI.US) over data security concerns from China’s cybersecurity regulator.
“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.
With the 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. 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.