By Yingzhi Yang and Tony Munroe
ByteDance last month hired former Xiaomi executive Shou Zi Chew for a newly-created role as chief finance officer, suggesting the tech company was moving a step closer to a much-anticipated IPO.
“There has been recent media speculation about our IPO plans. We would like to clarify that we’re not ready at this stage and do not have IPO plans yet,” TikTok owner ByteDance said in a statement to Reuters.
Reuters has reported ByteDance has been exploring possibilities to list Douyin, the Chinese version of TikTok, in New York or Hong Kong, or obtain a public listing for some of its Chinese businesses including Douyin and news aggregator Toutiao.
(Reporting by Yingzhi Yang and Tony Munroe in Beijing; Editing by Edmund Blair and Emelia Sithole-Matarise)