TikTok Owner ByteDance Denies Seeking IPO on NYSE - SolidRumor.com

TikTok Owner ByteDance Denies Seeking IPO on NYSE

 TikTok Owner ByteDance Denies Seeking IPO on NYSE

TikTok owner ByteDance. Shutterstock.

TikTok’s parent company ByteDance has denied it is in preliminary talks about listing Douyin, the sister version of TikTok in China, on the New York Stock Exchange (NYSE), according to China stated-owned media Global Times and business media Jiemian.

The company responded to both publications, saying earlier reports quoting people familiar with the matter that the company was seeking to go public on the NYSE and that ByteDance’s investors were supportive of the move, were false. Reuters has reported that the denials refer to a TikTok listing.

Some analysts believe it is still risky to make such a big move in the US, though the US Justice Department asked two federal appeals courts earlier this month to put on hold government appeals on lower courts’ rulings blocking restrictions the Trump administration sought against the app.

According to separate reports from Reuters and China tech media 36Kr last November, the Beijing-based company is planning to list Douyin in Hong Kong, along with its news aggregation app Toutiao and video platform Watermelon Video.

Add Comment