Financial News
Author: Zhai Ziqian
2020-07-31 15:02
Last update date: 2020-07-31 15:02"Reuters" reported that TikTok's parent company ByteDance is considering listing Chinese businesses in Hong Kong or Shanghai, and considering listing non-Chinese businesses in Europe or the United States. ByteDance and the Hong Kong Stock Exchange declined to comment.
According to sources, ByteDance currently prefers to be listed in Hong Kong and has been discussing with the Hong Kong Stock Exchange and the Chinese securities regulatory authorities.
It is reported that the Chinese business accounted for most of Bytedance’s revenue, which was US$16 billion in 2019, equivalent to HK$125 billion. According to news, the valuation of Chinese business listed in Hong Kong alone has exceeded US$100 billion.
ByteDance has only been established for 8 years, and its business includes TikTok, where users can shoot and upload short videos with special effects in a few seconds.
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