OREANDA-NEWS. The Chinese company ByteDance, which owns the TikTok social network, plans to conduct a public offering of shares (IPO) in Hong Kong. This is reported by the American media with reference to two sources. According to them, the company will place shares in the first quarter of 2020. In addition, according to the interlocutors of the newspaper, ByteDance intends to sell the application - TopBuzz news aggregator in the United States. The number of its users is about 300 thousand.

ByteDance also intends to take advantage of the help of US specialists, lawyers, and employees who "have connections with Washington". The company believes that this should help TikTok, in respect of which the US senators proposed to start an investigation, since the application, in their opinion, threatens national security. A ByteDance spokesman declined to comment on media plans for the IPO and the sale of TopBuzz.

In September, ByteDance reported on the results for the first half of 2019. The company's revenues exceeded $ 7 billion, which was higher than expected, media reported citing sources. In 2018, the company was valued at $ 75 billion.