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Tags: bytedance | tiktok | stock | share | buyback | options | china

ByteDance Offers Investors Share Buyback, Valued at $268B

Wednesday, 06 December 2023 11:11 AM EST

TikTok owner ByteDance is offering to buy back around $5 billion worth of shares from investors at a price that will value the company at about $268 billion, two people familiar with the matter said Wednesday.

The Chinese technology giant is offering to buy the shares at $160 each, the same price it offered employees last month.

One of the sources said the $268 billion valuation was about 10% lower than its value a year ago when it conducted a share buy back plan for investors.

The South China Morning Post first reported the news earlier Wednesday. ByteDance did not immediately respond to a request for comment. The sources declined to be identified as they were not authorized to speak to the media.

ByteDance has been expanding into areas such as e-commerce but has started to retreat from a four-year foray into mainstream video games with a plan to wind down its Nuverse gaming brand, Reuters reported last month.

© 2024 Thomson/Reuters. All rights reserved.


TheWire
TikTok owner ByteDance is offering to buy back around $5 billion worth of shares from investors at a price that will value the company at about $268 billion, two people familiar with the matter said Wednesday.
bytedance, tiktok, stock, share, buyback, options, china, privacy, spying, application
159
2023-11-06
Wednesday, 06 December 2023 11:11 AM
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