ByteDance plans to offer investors a $5 billion share buyback at $160 per share,Omnibus Archives matching the price of its latest stock repurchase option for employees in November, as reported by the South China Morning Post. This program values the TikTok owner at $268 billion, marking a 33% decrease from its peak valuation of $400 billion two years ago. Despite this, ByteDance remains China’s most highly valued unlisted tech company. The company abandoned its plans for a public listing in Hong Kong or New York following the Chinese government’s crackdown on the tech sector in mid-2020 which led Ant Group to suspend its IPO process. [SCMP]
