TikTok's owner has revived a plan to go public.
ByteDance, the owner of short-video app, previously paused preparations to list on an overseas stock exchange after Beijing authorities initiated increased official oversight into cybersecurity at some of China's largest tech companies.
However, it is reportedly now planning to list in Hong Kong in either the fourth quarter of this year or early 2022.
A source told The Financial Times: “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."
A senior partner at a corporate law firm told the publication: "We’re telling clients, if you’re a Chinese company of any size, focus on a Hong Kong IPO, forget about the US for now."
