TikTok considering listing its domestic business in Hong Kong or Shanghai: Report

Chinese tech giant ByteDance is reportedly considering to list its domestic business including TikTok, in Hong Kong or Shanghai, people familiar with the matter have told an international news agency. This comes in the backdrop of US President Donald Trump announcing the plan of banning ByteDance-owned app, TikTok and exploring other similar options. Of the two venues being considered by ByteDance, the company reportedly is inclined towards Hong Kong. 

Reuters cited one of the persons familiar to the matter saying that ByteDance, at the same time, is also studying the option to list its smaller, non-China businesses in Europe or in the United States, this includes TikTok that is not available in the Asian superpower. The 8-year-old Beijing-based tech giant and media company had originally wanted to list as a combined entity, including the video-sharing social networking service and other operations in New York or Hong Kong in a hit deal. 

However, ByteDance has been in communication with bourse operator Hong Kong Exchanges and Clearing (HKEX) over the business listing in China. According to reports, the two people have also said that the company is also in discussion with Chinese securities regulators. The report of separate plans for the China business comes amid the growing scrutiny by the US government over security concerns. 

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TikTok says its 'not going anywhere'

After US President Donald Trump indicated towards his plans of banning Chinese video-sharing social networking service TikTok, the company responded by assuring that it “here for the long run”. In a recorded message by TikTok US General Manager Vanessa Pappas shared on August 1, she thanked millions of Americans who use the application every day and spread creativity and joy into the lives of people. While Trump said in a press briefing earlier, that the US government is currently looking at options with respect to the China-based company, Pappas assured that “we’re not going anywhere” and called TikTok a “home for creators”. 

TikTok US General manager told the ‘TikTok community’, “I want to thank millions of Americans who use TikTok every day bringing their creativity and joy into our daily lives. We have heard your outpouring of support and we want to say thank you.”

“We’re not planning on going anywhere. TikTok is a home for creators and artists to express themselves, their ideas and connect with people across different backgrounds and we are so proud of all the various communities that call TikTok their home," she added.

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(With inputs from agency) (Image credit: Pixabay)