These banks were not immediately available for comment on Friday. It was working with banks including Morgan Stanley, Bank of America on the IPO. If Meicai had pressed on with its listing, it would have been the third online food service platform to list on US exchanges in recent months. The Cyberspace Administration of China is also conducting an investigation into Didi Chuxing "to prevent risks regarding national data security and maintain national security" and has since expanded its investigation into other US-listed tech companies, such as online recruitment platform BOSS Zhiping. The moves by these internet companies to suspend their US fundraising plans comes after the State Council, China's cabinet, last Tuesday said it would tighten supervisions on offshore listings by Chinese companies. Meicai, which means "beautiful vegetables" in Mandarin, was aiming to raise between US$300 million and US$500 million, reports said. LinkDoc Technology, a medical data solutions provider and Ximalaya, China's biggest podcast platform, are among the companies that have shelved their listing plans, according to media reports. It is the latest Chinese tech company to postpone its US initial public offering plans. Photo: Shutterstock Images alt=Meicai connects restaurants with suppliers of fresh produce. ![]() ![]() Meicai connects restaurants with suppliers of fresh produce.
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