LinkDoc Seeks $200-300 Million Ahead of Hong Kong IPO

(Source: Teda.gov) According to Bloomberg, LinkDoc Technology Limited, a medical data platform company backed by Alibaba Group, plans to lead a $200 to $300 million financing round before its upcoming IPO in Hong Kong. A person familiar with the matter said such a plan is still under discussion and no decision has been made yet.…

LinkDoc Seeks $200-300 Million Ahead of Hong Kong IPO
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( Source: Teda.gov)

According to Bloomberg, LinkDoc Technology Limited, a medical information platform business backed by Alibaba Group, prepares to lead a $200 to $300 million funding round prior to its upcoming IPO in Hong Kong.

An individual familiar with the matter stated such a strategy is still under conversation and no choice has actually been made. They included that the particular strategy and information of the Pre-IPO and the Hong Kong IPO might still alter.

Founded in 2014, LinkDoc concentrates on supplying huge information and expert system options for all celebrations in the pharmaceutical and medical markets. Given That 2015, the business has actually finished 5 rounds of funding with financiers such as Alibaba Health, Youshan Capital, CBC Capital, Ally Bridge Group and others.

In March this year, Alibaba Health made a tactical financial investment in the business. The 2 sides revealed that they will develop a patient-centered and innovation-driven service platform, which supplies whole-cycle assistance for cancer clients. The service will work by linking APPs such as the Ali Health platform with the LinkDoc Internet Hospital and Cancer Patient Service.

In June this year, LinkDoc formally sent its prospectus to the United States Securities and Exchange Commission (SEC) and prepared to note on the Nasdaq. At that time, it was set to raise as much as $211 million from releasing $108 million shares at a rate of $1750 to $1950

SEE ALSO: LinkDoc to List on NASDAQ, Sets Sights on $1.5 Billion Market Value

According to the prospectus divulged by the business itself, the business’s income in 2019 and 2020 were RMB 374 million yuan and RMB 942 million yuan respectively, with a year-on-year boost of 89%. Their very first quarter income for this year was RMB 223 million yuan, up by RMB 159 million yuan from the very same duration of 2020.

But in July, LinkDoc ditched strategies to list due to market volatility It therefore ended up being the very first popular Chinese business to stop its United States IPO prepares after Beijing punished domestic business noting overseas.

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