ByteDance plans to offer investors a $5 billion share buyback at $160 per share,Watch Ignite Vol. 3 Online 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]
