ByteDance mulls listing domestic business in Hong Kong or Shanghai
BEIJING/HONG KONG (CHINA) – Chinese tech firm ByteDance, which owns TikTok, is considering listing its domestic business in Hong Kong or Shanghai in the wake of rising tensions with the US over its popular video app.
Sources say the firm prefers Hong Kong and it is also exploring the option of listing its smaller non-China based businesses in Europe or the US.
The tech firm, which is based in Beijing, actually wanted to list as a combined entity, including its non-China app TikTok and other operations, in New York or Hong Kong in a mammoth deal.
ByteDance has been holding discussions with Hong Kong Exchanges and Clearing (HKEX) over the China business listing. It is also discussing with other Chinese regulators.
The China business could be valued at more than $100 billion in Hong Kong or on Shanghai’s Nasdaq-style STAR Market in a stand-alone listing.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field