ByteDance denies IPO plans

Beijing-based ByteDance said on Friday it had no imminent plans for an initial public offering (IPO).

ByteDance last month hired former Xiaomi executive Shou Zi Chew for a newly-created role as chief finance officer, suggesting the tech company was moving a step closer to a much-anticipated IPO.

PageOne has reported ByteDance has been exploring possibilities to list Douyin, the Chinese version of TikTok, in New York or Hong Kong, or obtain a public listing for some of its Chinese businesses including Douyin and news aggregator Toutiao.

ByteDance has also been looking at a potential IPO for its non-China business, which includes TikTok that is not available in China, in Europe or the United States.

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