ByteDance plans to buy back up to US$6 billion of shares from investors at a valuation of about US$400 billion, according to people who reviewed the proposal.

A recent letter to investors set the offer price at US$241.35 a share. The valuation is about 20% higher than in a similar buyback program a year earlier.

The company also proposes extending by four years, to December 11, 2030, the deadline to either go public or let outside shareholders sell back their entire stakes, according to one of the people.

ByteDance also plans to offer employees in its AI division a total of 300 million tracking shares tied to the value of that AI business.

Some secondary trades have valued ByteDance at close to US$500 billion.

🔗 Source: Bloomberg