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After IPO plans go downhill, ByteDance starts share buyback

By Hiya Chaudhary

ByteDance has undergone numerous changes in the last few days, with their founder/ CEO stepping down, IPO sale holdback and going back on their decision of a public listing. The buyback was launched this week for its employees, current and former, rates of the shares have been sent out to the shareholders that are eligible for it via email.

The rates have risen to $126 per share for current employees and $100.80 per share for former employees from $60 last year. The company has been under stricter scrutiny of the Chinese regulators after Yaming’s stepdown. Their Beijing based company is yet to make a comment.

Tags: buyback ByteDance IPO TikTok

Hiya Chaudhary

Hiya Chaudhary is an Economics major at Miranda House. A political fanatic who has a lot to say about anything and everything. She is an eager learner and enthusiastic about everything life has to offer. Hiya is currently working at USAnewshour.com and can be reached at shweta.hiya01@gmail.com