TikTok-owner ByteDance is looking forward to list its Chinese short video app Douyin in Hong Kong and is currently in discussions with the team.
The possible situations have been discussed by ByteDance and hence, its representatives are holding meetings with various investment banks.
However, the talks are quite at an earlier stage. Right now, TikTok is not available in China and Douyin is TikTok’s Chinese peer.
As per a report, investment banks are conducting analysis and research for a standalone IPO for Douyin.
ByteDance has been under stress in the United States to sell the renowned app’s U.S. firm.
Since the White House is of the opinion that TikTok increases the risk of national security because personal information collected on 100 million Americans using the app may be with the government of China.
By Sahana Iyer
