Software company ByteDance wants to go to the Hong Kong stock exchange early next year. The Chinese company behind the popular TikTok app prefers the business city to a listing in New York, writes the British business newspaper Financial Times based on insiders.
ByteDance is simultaneously trying to suppress resistance to the company in the United States. American politicians wonder whether the video sharing app TikTok poses a danger to American state security because it is owned by a Chinese company. ByteDance is already planning to dispose of its American news app TopBuzz in order to alleviate American concerns.