Byte beating proposes to repurchase the shares of up to US $ 3 billion (S $ 4.29 billion) to investors.As its first public offering (IPO) plan was stagnant, the repurchase gave the opportunity to monetize existing shareholders.
According to Bloomberg, the memo of the company's beating company shows that the byte beating on Friday (16th) will notify the shareholders by email;The company's implicit valuation is about $ 300 billion.Byte beating also stated that the existing stock incentive plan was extended for another 10 years.
Thanks to the success of Tiktok and Douyin, the Beijing -headed Beijing's bytes have grown into the world's most valuable startup.However, it faces the Chinese government's rectification of Internet companies in China, and in the United States is facing Washington's doubts about its services.
In the online city hall activities held in August, according to participants, byte beating management said that the company currently has no plans or timetable for stock listing.
Bytes have been considering listing TIKTOK for many years, so that they can give back to investors and spin the company with the Chinese parent company, which will also help alleviate political pressure.The company has also considered listed Douyin and its Chinese business in Hong Kong.But with China's rectification of Internet giants, both plans have been postponed.
