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

Platform News: ByteDance TikTok

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 has reported.

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

“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,” the newspaper quoted a source as saying.

However, a ByteDance spokesperson told journalists at our partner news agency Reuters that the FT report was not accurate. The spokesperson declined to provide more details.

Beijing-based BytDance 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.

The team at Platform Executive hope you have enjoyed the ‘FT: TikTok owner ByteDance aims for Hong Kong IPO by early 2022‘ article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Ann Maria Shibu in Bengaluru. Additional reporting by Echo Wang and Vishal Vivek, Editing by Edmund Klamann and Alistair Bell.

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