China Firms Suspend US IPOs after New Govt Guidelines: Herald

Several Chinese companies have suspended their plans to list in the U.S., including Keep, an exercise App, Himalaya, a Chinese music/podcast host, and LinkDoc, a medical tech service provider, after the State Council released stricter scrutiny over listing Chinese shares in overseas markets, as well as draft regulations by the cybersecurity watchdog requiring reviews over data confidentiality, the 21st Century Business Herald reported. There won't likely be any new shares getting listed in the second half after 37 companies succeeded in H1, the newspaper said. There were also rumors that regulators will also begin to require approvals for listings through the so-called Variable Interest Equity structure, a way for Chinese domestic companies to obtain overseas listing through registering in another country, the newspaper said.