⁍ TikTok-owner ByteDance is in discussions internally and with investment banks to list its Chinese short video app Douyin in Hong Kong.
⁍ ByteDance has been under pressure in the United States to sell the popular app’s U.S. arm.
⁍ The White House contends that TikTok poses national security concerns.
– In July, Reuters reported that TikTok owner ByteDance was looking into the possibility of listing its Chinese short-video app, Douyin, in Hong Kong or Shanghai. Now, two sources tell Reuters that ByteDance is in talks with investment banks about an IPO for Douyin, which is its Chinese counterpart to TikTok, which is also owned by ByteDance. Reuters’ sources say the talks are “very preliminary” and that ByteDance reps have met with investment banks.
Source: https://www.reuters.com/article/china-bytedance-douyin/bytedance-in-early-talks-to-list-chinese-short-video-app-douyin-in-hong-kong-sources-idUSKBN27B0GF