ByteDance launches share buyback after shelving IPO plans: Report

Topics TikTok | ByteDance | Share buybacks

By Yingzhi Yang and Tony Munroe BEIJING (Reuters) - ByteDance, the Chinese owner of short video platform giant TikTok, launched a share buyback this week for current and former employees, two people with direct knowledge of the matter said on Wednesday. The buyback comes after ByteDance announced in April that it did not have imminent plans for a public listing.

The company had planned to list some of its Chinese businesses including TikTok's Chinese version Douyin in Hong Kong, sources previously told Reuters. Last week,.

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