BEIJING (CHINA) – China-based ByteDance, which owns TikTok, is in discussions with investment banks to list its Chinese short video app Douyin in Hong Kong.
The firm has held internal discussions about the potential scenario and its envoys have met several investment banks to explore such a possibility for the app.
Douyin is the counterpart of TikTok, which is unavailable in China.
Investment banks are doing the math about a standalone IPO for Douyin.
In China, Douyin is hugely popular and it has amassed 600 million daily active users as of August.