Nov 12 (Reuters) – ByteDance, the Chinese owner of TikTok, is planning to buy back up to $6 billion worth of shares from existing investors at a valuation of about $400 billion, The Information reported on Thursday, citing a letter to shareholders and a person familiar with the plans. Reuters could not immediately verify the report. […]
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TikTok-owner ByteDance plans buyback at $400 billion valuation, The Information reports
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Nov 12 (Reuters) – ByteDance, the Chinese owner of TikTok, is planning to buy back up to $6 billion worth of shares from existing investors at a valuation of about $400 billion, The Information reported on Thursday, citing a letter to shareholders and a person familiar with the plans.
Reuters could not immediately verify the report.
(Reporting by Carlos Méndez in Mexico City. Editing by Alan Barona)