TikTok's parent company Bytedance plans to launch Douyin for listing in Hong Kong alone, and has communicated with investment banks on underwriting matters
ByteDance is considering promoting the independent listing of Douyin business in Hong Kong. People familiar with the matter said that Goldman Sachs and many other investment banks have communicated with ByteDance about underwriting matters. Verified this by ByteDance, and the relevant person in charge of ByteDance responded that he is considering some business listing plans, but has not yet finalized it. As early as July this year, it was reported that ByteDance was considering listing its domestic business in Hong Kong or Shanghai. Reuters quoted people familiar with the matter as saying that if the Chinese business were listed separately, the valuation would exceed US$100 billion. However, according to 36Kr, the Chinese business of ByteDance will be split again, and the Chinese business of Douyin will be listed separately. Douyin’s biggest rival, Kuaishou , will also be listed in Hong Kong in the first quarter of 2021. According t...