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TikTok owner ByteDance aims for Hong Kong IPO by early 2022 - FT

Beijing-based ByteDance said in April that it had no imminent plans for an initial public offering (IPO).   | Photo Credit: AFP

ByteDance, the Chinese owner of short video platform TikTok, has revived its plan to go public with a listing in Hong Kong by early 2022 after addressing Chinese regulators' concerns, the Financial Times reported on Sunday.

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ByteDance is planning to list in either the fourth quarter of this year or in early 2022, the FT reported, citing sources familiar with the matter.

"We are expecting final guidance from ByteDance inSeptember. They are submitting all the filings with Chineseauthorities right now and are going through the review process,"the newspaper quoted a source as saying.

However, a ByteDance spokesperson told Reuters that the FT report was not accurate. The spokesperson declined to provide more details.

Beijing-based ByteDance said in April that it had no imminent plans for an initial public offering (IPO).

Chinese regulators have stepped up their scrutiny of the tech sector in recent months. The FT report said ByteDance has been working on addressing data security concerns raised by regulators.


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Printable version | Dec 5, 2021 2:28:56 PM | https://www.thehindu.com/sci-tech/technology/tiktok-owner-bytedance-aims-for-hong-kong-ipo-by-early-2022-ft/article35809458.ece

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