![]() ![]() ![]() Later, you can play your notes back as a pencast - a little movie where the notes gradually appear in sync with the audio. Lacata uses pencasts to record supplementary lectures for his students, showing on paper how to work through a math problem while he explains his steps. #Install livescribe desktop instead of echo desktop how to#.It will make a final decision about the listing venue within the next two weeks, they added. The CAC and Ximalaya did not respond to requests for comment. Shanghai-based Ximalaya, which filed publicly for the U.S. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data. securities regulator began a rollout of rules that would exclude foreign companies from U.S. exchanges if they do not comply with U.S. "The CAC thought Hong Kong would be better for ideological platforms such as Ximalaya," said a third person. Goldman Sachs (GS.N) and Bank of America (BAC.N),two underwriters on Ximalaya's IPO, declined to comment. The other underwriters Morgan Stanley (MS.N) and CICC (3908.HK) did not respond to requests for comment. Ximalaya had about 250 million monthly active users, nearly a fifth of China's population, in the first quarter of 2021, according to its IPO prospectus. It offers users a platform to access free or paid content from roughly 5.2 million professional or amateur content creators.Chinese Technology, Media, and Telecom (TMT) companies historically chose to list in the US to achieve greater liquidity and to access a broader investor base. Sources chinabased ximalaya linkdoc us professional# Since the beginning of 2018, 86 Chinese companies listed on the US exchanges. These 86 Chinese companies have raised total proceeds of $31.6 billion in these US listings. In terms of IPO proceeds raised, the biggest three listings of Chinese companies were Didi Chuxing listing in New Yrk ($4.4 billion in 2021), Lufax’s listing in New York ($2.4 billion in 2020), and iQiyi listing on Nasdaq ($2.3 billion in 2018). However, they continue to face regulatory challenges amid the tense geopolitical situationĪmid a tense geopolitical stand-off between the US and China, there have been increasing concerns about the future of some the large Chinese company listings on US stock exchanges. The regulations require companies to establish that they are not owned or controlled by a foreign government and also to allow the US Public Accounting Oversight Board to review the companies financial audits. These regulations impact both Chinese companies already listed in the US or those planning to list in the US. We expect many more Chinese companies to return to home exchanges Many Chinese TMT companies have now listed back in Chinaĭue to the more challenging environment on US exchanges, we have seen many Chinese TMT companies listed in the US opt for for secondary listings in China or Hong Kong. We will see these companies come back to the Hong Kong or Chinese exchanges. Sources chinabased ximalaya linkdoc us professional#Ĭhina Mobile and Weibo have been delisted from the US and we expect them to complete their secondary listing in Shanghai and Hong Kong respectively. ![]()
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