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Ilya St
in
Finance
October 29 20:44

TikTok parent company ByteDance denies plans for listing in Hong Kong

Earlier today, The Financial Times claimed that US$75 billion tech giant considers an IPO in Hong Kong in Q1 2020
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"There is absolutely zero truth to the rumours that we plan to list in Hong Kong in Q1," TikTok owner stated, without providing any more details.
TikTok is an app that allows record and edit 60 second videos, most are music-synched. In just two years, it gained a massive following and now have 500 million users globally.
However, as global expansion continued, Washington raised security concerns with two US senators calling Joseph Maguire, Director of National Intelligence to investigate TikTok on the subject of spying on American users.
TikTok representatives responded to senators' enquiry, stating that the app is "not influenced by any foreign government, including the Chinese government".