Beijing-based ByteDance says it has no immediate listing plans
On Friday, ByteDance, a Beijing-based company stated that it did not have any plans currently for an initial public offering (IPO).
Shou Zi Chew, was hired last month as chief finance officer, which suggested that the company was moving a step closer to a much-anticipated IPO.
In a statement, TikTok owner ByteDance said that it is not ready right now for any IPO plan, as was the speculation recently in the media.
As it was reported earlier that ByteDance has been exploring possibilities to list Douyin, the Chinese version of TikTok, in New York or Hong Kong, or obtain a public listing for some of its Chinese businesses including Douyin and news aggregator Toutiao.