Of the two venues, the company prefers Hong Kong, according to two of the people. One of the two also said ByteDance is simultaneously studying the option to list its smaller, non-China business - which includes TikTok that is not available in China - in Europe or the United States.
Reuters previously reported China accounts for the bulk of ByteDance revenue, which one source said was around $16 billion in 2019. The people interviewed by Reuters said the idea of splitting the whole business into two public listings and the venue discussions are preliminary and subject to change. They spoke on condition of anonymity because the information was private.
ByteDance declined to comment. HKEX said it doesn’t comment on individual companies. The China Securities Regulatory Commission didn’t respond to a request to comment.The discussions about the two listings were initiated before the investor plans for a separate TikTok buyout emerged, according to one source, but after the Committee on Foreign Investment in the United States started to look into on TikTok’s handling over user data last year.
It generated around $2.9 billion in profit for 2019, according to one of the people familiar with the matter. The company has set a 2020 revenue target of about 200 billion yuan . TikTok, over the same period, is expected to hit revenue of $1 billion.
TikTok should be banned , its a spy agency for the Xinjinping longterm abusive regime against people worldwide & minorities as the Uyghurs and the people of HongKong & others .. BoycottTikTok Boycott_China coronavirus
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