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ByteDance IPO HK - Douyin, Toutiao & Xigua Video

#IPO: China outbound#China e-Commerce#Capital Markets#Entertainment

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ByteDance is in talks with Goldman Sachs for its IPO plans. The company will inject the asset such as Douyin, Toutiao, and Xigua video for HK IPO.

Douyin rival Kuaishou IPO HK aims at US$5 billion. It was valued at roughly US$30 billion after it raised US$3 billion late last year in a pre-IPO round led by Tencent.

These developments come after TikTok faced scrutiny in the US over safety concerns. The short-video app was able to avoid a ban in the country by setting up US-based TikTok Global, which will be partly owned by Oracle and Walmart.

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