Last Updated on 22/11/2021 by Sanskriti
According to the Financial Times, ByteDance Inc, the Chinese inventor of short-video platform TikTok, has revived its plans to execute an IPO and list in Hong Kong by early 2022 after overcoming Chinese regulators’ objections. The world’s most valuable business wants to list in either the fourth quarter of this year or early 2022, according to the Financial Times, which cited people familiar with the situation.
“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 person as saying.
However, a spokesman for ByteDance informed Reuters that the FT article was inaccurate. More information was not provided by the spokesman. ByteDance, located in Beijing, stated in April that the company has no immediate intentions to go public.
In recent months, Chinese officials have increased their monitoring of the tech sector. ByteDance has been trying to resolve data security issues highlighted by regulators, according to the FT article.