TikTok parent ByteDance mulls Douyin IPO in Hong Kong

The Beijing-based company has reportedly been in talks with banks such as Goldman Sachs for its IPO plans. A source from ByteDance responded to 36Kr, saying that the firm is taking standalone listings for some of its businesses into consideration, but it has yet to finalize the decision.

It was reported in July that ByteDance was considering taking its domestic business public in Hong Kong or Shanghai, which could fetch it a US$100 billion valuation. The company was also said to be preparing for an IPO for its smaller businesses outside of China – including TikTok – in Europe or the US.

Douyin rival Kuaishou is also reportedly looking to go public in Hong Kong, aiming to raise up to US$5 billion. It was valued at roughly US$30 billion after it raised US$3 billion late last year in a pre-IPO round led by Tencent, Reuters reported.

These developments come after TikTok faced scrutiny in the US over safety concerns. The short-video app was able to avoid a ban in the country by setting up US-based TikTok Global, which will be partly owned by Oracle and Walmart.