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ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED

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Alibaba Health-backed LinkDoc files for U.S. IPO

06/14/2021 | 05:52pm EDT

June 14 (Reuters) - LinkDoc Technology Ltd, a medical data company backed by a subsidiary of Alibaba Health Information Technology Ltd, filed for an initial public offering in the United States on Monday.

The Beijing-based company, which offers cancer-focused healthcare services, reported a 41% jump in revenue for the three months ended March 31, according to the filing.

For the same period, net loss attributable to LinkDoc widened to 135.4 million renminbi ($21.17 million) from 61.6 million renminbi a year earlier.

The company's listing plans come despite the U.S. introducing measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the country's auditing standards.

LinkDoc said it will use the proceeds from the offering to strengthen its research and development capacities and for investments and acquisitions, among others.

The company will list on the Nasdaq under the symbol "LDOC", it said.

Alibaba Health is the healthcare flagship platform for the Alibaba Group Holding Ltd conglomerate.

Morgan Stanley, BofA Securities and CICC are the underwriters for the proposed IPO.

($1 = 6.3967 Chinese yuan renminbi)

(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -2.93% 194.3 Delayed Quote.-14.02%
ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED -1.32% 11.92 End-of-day quote.-47.95%
MORGAN STANLEY -0.98% 95.18 Delayed Quote.40.06%
NASDAQ COMP. -0.30% 14638.28834 Real-time Quote.13.85%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.03% 6.46439 Delayed Quote.-0.51%
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Financials
Sales 2022 23 720 M 3 670 M 3 670 M
Net income 2022 326 M 50,5 M 50,5 M
Net cash 2022 10 930 M 1 691 M 1 691 M
P/E ratio 2022 390x
Yield 2022 -
Capitalization 134 B 20 808 M 20 804 M
EV / Sales 2022 5,21x
EV / Sales 2023 3,48x
Nbr of Employees 1 033
Free-Float 30,0%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 9,91 CNY
Average target price 20,41 CNY
Spread / Average Target 106%
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Managers and Directors
Shun Yan Zhu Chairman & Chief Executive Officer
Tong Luo Independent Non-Executive Director
King On Wong Independent Non-Executive Director
Yi Fei Huang Independent Non-Executive Director
Yong Ming Eddie Wu Non-Executive Director
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