ByteDance is considering pushing for a separate listing of Douyin, the Chinese version of TikTok, in Hong Kong, 36kr said, citing sources with knowledge of the matter, adding that a number of investment banks, including Goldman Sachs, have talked to ByteDance about underwriting.
ByteDance officials responded by saying that they are considering plans to list some of their businesses, but have not yet finalized them, the report said.
In July, reports emerged that ByteDance was considering a Hong Kong or Shanghai IPO for its domestic business. At the time, Reuters, citing sources with knowledge of the matter, said the Chinese business would be valued at more than $100 billion if listed separately. But according to 36kr, ByteDance's China business will be spun off again, with Douyin's China business going public separately.
Douyin's biggest rival, Kuaishou, will also list in Hong Kong in the first quarter of 2021, according to Tencent Tech, with Bank of America and Morgan Stanley sponsoring Kuaishou.
Douyin announced in August this year that it has more than 600 million daily active users.
Kuaishou's 2019 Kuaishou Content Report, released in February, shows that Kuaishou's daily active users will surpass 300 million by early 2020.
Beyond short-form video, Douyin and Kuaishou are also overlaying new content formats and product features, such as mid-length video and live e-commerce, in search of a second curve for growth.