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Deepti Sri · · 1 min readByteDance said to IPO by early 2022, but spokesperson denies reports
Update (August 9, 1:32 pm): This article was updated to include a report that denies ByteDance’s IPO plans in the near future.
“ByteDance, the owner of short-video app TikTok, has revived a plan to go public despite a widening regulatory assault targeting Chinese technology companies, aiming for a Hong Kong listing by early next year,” the Financial Times reported.
Details:
- ByteDance is looking to list on the Hong Kong stock exchange in either the fourth quarter of this year or early 2022, sources said. The firm is reportedly currently working on submitting its filings to Chinese authorities and is going through the review process.
- However, a representative from ByteDance has reportedly denied news of the company’s plan to launch an initial public offering in the near future.
Dive deeper:
- Earlier this year, ByteDance put its intentions to list offshore on hold indefinitely after government officials told the company to focus on addressing data security risks.
- The said plans to list in Hong Kong come amid heightened scrutiny from Chinese authorities on firms aiming to list overseas.
Editing by Miguel Cordon and Arpit Nayak
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