This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.rt.com/business/531458-tiktok-bytedance-ipo-crackdown-china/

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
TikTok owner targets IPO in 2022 despite Beijing’s major crackdown on Chinese Big Tech – reports TikTok owner targets IPO in 2022 despite Beijing’s major crackdown on Chinese Big Tech – reports
(about 2 months later)
ByteDance, the Chinese owner of short video platform TikTok, is reportedly planning to go public as early as next year, after addressing concerns over data security raised by China’s state regulators.ByteDance, the Chinese owner of short video platform TikTok, is reportedly planning to go public as early as next year, after addressing concerns over data security raised by China’s state regulators.
The Chinese multinational is expected to list in Hong Kong either in the fourth quarter of the current year or in early 2022. In December, the company managed to raise nearly $5 billion at a $180-billion valuation.The Chinese multinational is expected to list in Hong Kong either in the fourth quarter of the current year or in early 2022. In December, the company managed to raise nearly $5 billion at a $180-billion valuation.
After shelving plans for the overseas listing this year, the group had to provide more details to China’s regulatory authorities on how it collects, stores and uses the personal data of consumers.After shelving plans for the overseas listing this year, the group had to provide more details to China’s regulatory authorities on how it collects, stores and uses the personal data of consumers.
“We are expecting final guidance from ByteDance in September. They are submitting all the filings with Chinese authorities right now and are going through the review process,” an unnamed person familiar with the issue told FT.“We are expecting final guidance from ByteDance in September. They are submitting all the filings with Chinese authorities right now and are going through the review process,” an unnamed person familiar with the issue told FT.
Chinese officials have dialed up their clampdown on technology-focused businesses as part of the government’s broad agenda to increase national security. The country’s largest tech groups have come under scrutiny for alleged violations of data security and monopoly laws.Chinese officials have dialed up their clampdown on technology-focused businesses as part of the government’s broad agenda to increase national security. The country’s largest tech groups have come under scrutiny for alleged violations of data security and monopoly laws.
For more stories on economy & finance visit RT's business sectionFor more stories on economy & finance visit RT's business section
Dear readers and commenters,
We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.
Sorry for the inconvenience, and looking forward to your future comments,
RT Team.