Another Tiny US Listing With Ties to China Spikes 13,000%

Reuters

ByteDance stock option offering price lowered amid slowing growth -sources

BEIJING (Reuters) -TikTok owner ByteDance is launching a new stock option granting programme for its employees that according to two sources lowers its prices by 20% from the 2021 plan, as the Chinese company tries to retain talent amid slowing revenue growth. The decision, which a ByteDance executive said was also aimed at attracting new talent, comes as the unlisted company was valued at around $300 billion recently, equalling roughly $170 per share, in the private equity secondary market. That compared with the $300 billion-$400 billion valuations it received in the secondaries last year, according to one of the sources, who declined to be named because they are not authorised to talk to the media.