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TikTok plans to debut on the Hong Kong Stock Exchange by early 2022

Financial Times has reported that the Chinese company ByteDance, owner of the microvideos application TikTok, has regained interest in debuting on the Hong Kong Stock Exchange, something that could occur early next year, despite pressure from regulators of the Asian giant on listed technology companies.

TikTok plans to debut on the Hong Kong Stock Exchange by early 2022

TikTok plans to debut on the Hong Kong Stock Exchange by early 2022 (Image: Solen Feyissa)

ByteDance would have spent the last few months addressing data security concerns from Chinese regulators, said one of the sources consulted by the newspaper.

“We expect a final guide from ByteDance in September. They are making all the submissions to the Chinese authorities at this time and are going through the review process,” he added.

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ByteDance shelved its original plans to go overseas this year, likely in the United States, after Beijing stepped up its crackdown on China’s biggest tech groups for alleged violations of data security and handling regulations, including more oversight. strict of those listed abroad.

In addition to Beijing’s concerns, ByteDance has also had to grapple with Washington’s, which last year led the company to agree to its listing on a US stock market as part of the partnership agreement negotiated with Oracle to meet the demands of the Trump Administration, which was eventually abandoned.

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