Didi keep ximalaya linkdoc us1/4/2024 ![]() © 2022 Enterprise Ventures LLC.Įnterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer SomaBay (tax ID: 204-903-300), our Red Sea holiday partner Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.China’s most popular fitness app pulled out of plans to file for an initial public offering in the US last week as Chinese regulators announced an investigation into data security concerns at Didi, a ride-hailing group. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. ![]() Summaries are intended for guidance only and are provided on an as-is basis kindly refer to the source article in its original language prior to undertaking any action. In the red: Fawry (-4.6%), Pioneers Holding (-2.6%) and Cleopatra Hospital (-2.5%).Įnterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. In the green: Palm Hills Development (+3.1%), Sidi Kerir Petrochemicals (+1.4%) and CIB (+0.3%). The EGX30 fell 0.9% on Thursday on turnover of EGP 1.23 bn (0% above the 90-day average). Chinese podcast platform Ximalaya has also scrapped plans to list on the US stock market, with one industry expert telling the FT that the pipeline of listings could soon grind to a halt. Alibaba-backed medical data group LinkDoc Technology has also suspended its Nasdaq IPO plans after it was due to price its shares on Thursday, three unnamed sources told Reuters. The probe triggered a sell-off of Didi’s shares which lost almost one-fifth of its market value.Ĭhinese fitness app Keep has already called off plans to file for an IPO in the US on the sweeping announcement and as Didi’s fallout spreads, the Financial Times reports. The announcement, which may stymie some of the biggest listings in the global financial markets, comes days after China launched a security probe into ride-hailing giant Didi for alleged data security breaches, following the company's USD 4.4 bn IPO on the Nasdaq - the biggest Chinese IPO in the US since 2014. The tech industry isn’t thrilled: “Elements of this executive order threaten our global leadership and hard-won success,” said Gary Shapiro, CEO of the Consumer Technology Association that includes Apple, Facebook and Google.Ĭhinese firms face new tests before listing abroad: China’s government will conduct regulatory screening of firms with more than 1 mn users before they are allowed to IPO abroad, in a new blow to the Chinese tech industry, the Financial Times reports. Among the order’s goals are preventing so-called “killer acquisitions” designed to shut down competition, creating new regulations to lessen internet surveillance and data harvesting, and rules to protect small businesses. US tech companies to face stiff new competition rules under Biden exec order: President Joe Biden signed on Friday a sweeping executive order aimed at limiting the anti-competitive practices of giant technology companies.
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