TikTok-owner ByteDance mulls Hong Kong IPO by early-2022

by   |  VIEW 1118

TikTok-owner ByteDance mulls Hong Kong IPO by early-2022
TikTok-owner ByteDance mulls Hong Kong IPO by early-2022

ByteDance, the Chinese tech conglomerate that owns TikTok, an immensely popular short-video sharing app, had been exploring an option of a public market floatation in Hang Seng as early as by early-2022, as the Beijing-based Chinese multinational internet technology company legally domiciled in Cayman Island, had reportedly addressed Chinese regulators’ concerns, a Financial Times report had revealed late on Sunday citing unnamed sources given the scale of sensitivity of the subject-matter.

On top of that, the Financial Times news report published late in the day quoted one of the sources familiar with the issue as saying that the Chinese tech mammoth had been working out a Hong Kong listing that could take place as early as by fourth quarter of 2021 or early-2022, adding “We are expecting final guidance from ByteDance in September.

They are submitting all the filings with Chinese authorities right now and are going through the review process. Nevertheless, latest Financial Times news report citing strong possibilities of a ByteDance public market listing in Hong Kong had largely controverted the Chinese tech megalith’s earlier remarks, as it had told in a statement in April this year that the company had no imminent plans for an IPO (Initial Public Offerings).

ByteDance plans Hong Kong-listing by early-2022

However, while being asked over the issue, a spokesperson for ByteDance said that the company would not comment over speculations, though the spokesman did not offer further details and submissively negated the FT news report.

In factuality, latest media topline citing prospects of a ByteDance listing came forth as the Chinese regulators had ratcheted up pressures on tech giants, while a crack-down on Jack Ma’s Alibaba had witnessed a halt of a dual-listing of its fintech arm Ant later last year.

Tiktok Hong Kong

Hong Kong Crypto Influencer Arrested in Connection with JPEX Liquidity Crisis

TikTok Slapped with Hefty €345 Million Fine Over Children’s Privacy Concerns

TikTok's Big Move: Shifting European User Data to New Irish Center

New York City Puts a Stop to TikTok on Government Devices

TikTok presented new innovations: Introducing text posts!

Hong Kong politician invites Coinbase to operate in Hong Kong