{"id":1642587,"date":"2022-09-16T11:35:10","date_gmt":"2022-09-16T15:35:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1642587"},"modified":"2022-09-16T11:35:23","modified_gmt":"2022-09-16T15:35:23","slug":"bytedance-to-spend-up-to-3-billion-to-repurchase-shares-from-investors","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bytedance-to-spend-up-to-3-billion-to-repurchase-shares-from-investors\/","title":{"rendered":"ByteDance to spend up to $3 billion to repurchase shares from investors"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbytedance-to-spend-up-to-3-billion-to-repurchase-shares-from-investors%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1642587&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>BEIJING (Reuters) -ByteDance will spend up to $3 billion to repurchase shares in a deal that values the Chinese unlisted owner of TikTok at around $300 billion, according to a company memo to investors seen by Reuters on Friday.<\/p>\n<p>The exercise is mainly aimed at helping some of its shareholders improve their liquidity positions, a person with direct knowledge of the plan said.<\/p>\n<p>ByteDance had explored conducting an initial public offering in Hong Kong, sources have said, but company said in April last year it had no imminent plans.<\/p>\n<p>The company\u2019s board will put the proposal, which values its shares at up to $176.9 apiece, to its shareholders at the end of this month and plans to carry out the buyback in the next two to three months, the person with direct knowledge said.<\/p>\n<p>Recent trades in the private equity secondary market valued the company at $300 billion or lower, the person and a separate source said.<\/p>\n<p>That compares with valuations of between $300 billion and $400 billion it received in the secondary market last year. Even at $300 billion, it is one of the world\u2019s most valuable private companies, according to CB Insights.<\/p>\n<p>The sources declined to identified as the information was  confidential.<\/p>\n<p>Slower economic growth, much of which is due to COVID curbs, as well as Beijing\u2019s regulatory crackdown on the tech sector have crimped earnings prospects for many Chinese internet firms.<\/p>\n<p>The company last month cut the price of stock options granted to employees by 20% from its 2021 plan.<\/p>\n<p>Revenue growth in 2021 also slowed to 70% compared with more than 100% a year earlier.<\/p>\n<p>In addition to TikTok, ByteDance\u2019s other hit apps include its Chinese equivalent Douyin and news aggregator Jinri Toutiao. In 2021, users spent approximately $2.3 billion in TikTok and the iOS version of Douyin, according to Sensor Tower.<\/p>\n<p> (Reporting by Yingzhi Yang and Brenda Goh; Editing by Edwina Gibbs)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2749558\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8F0CJ-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8F0CJ-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING (Reuters) -ByteDance will spend up to $3 billion to repurchase shares in a deal that values the Chinese unlisted owner of TikTok at around $300 billion, according to a<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1642587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1642587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1642587"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1642587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1642587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1642587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1642587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}