According to the Financial Times, ByteDance is looking to list on the Hong Kong Stock Exchange.
On August 8, the Financial Times reported that ByteDance is reviving plans to list in Hong Kong in either the fourth quarter of 2021 or early 2022, citing people with knowledge of the plans. However, the firm's representative has denied news of the plan to launch an IPO shortly.
At the end of March 2021, Xiaomi's international business president, Chew Shou Zi, announced he would join ByteDance to serve as its new chief financial officer. As he had helped Xiaomi to list in Hong Kong, his joining was considered by many industry insiders as a landmark event for ByteDance to accelerate its listing.
On April 14, it was reported that the company submitted an engagement letter to the Hong Kong Stock Exchange to start the listing process in Hong Kong. Numerous analysts have speculated that the firm's valuation is between USD 250 billion and USD 400 billion.
On April 23, ByteDance responded to the listing rumors by releasing a statement, saying that it is not ready to file an initial public offering for the time being and currently has no listing plan.
On July 12, according to the Wall Street Journal, the company was considering an IPO for some or all of its businesses in the United States or Hong Kong. However, after that, cyberspace and securities regulators asked the firm to address data security risks and other issues.