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TikTok owner ByteDance silent on rumored Hong Kong IPO plan

US regulatory pitfalls amid China tensions spur company to look closer to home

TikTok had been downloaded 961 million times worldwide, generating revenue exceeding $1.2 billion, as of December last year.   © Reuters

Shunning U.S. financial markets amid ongoing political tensions with China, ByteDance has chosen instead to hold its initial public offering on the Hong Kong Stock Exchange, and will file its prospectus in the second quarter, Caixin has learned

TikTok owner, shares of which are privately trading at levels that value the company at $300 billion, declined to comment.

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