TikTok parent company ByteDance offers to buy back up to $5 billion from investors

ByteDance is among the world’s most valuable start-ups but its plans for an initial public offering have been scuppered by a series of setbacks

ByteDance is one of China’s internet leaders, alongside Tencent and Alibaba Group Holding. Picture: Omar Marques/SOPA Images/LightRocket

ByteDance, the parent of social video platform TikTok, is offering to buy back up to $5 billion from investors, according to people familiar with the matter.

The new offer, earlier reported by the South China Morning Post, is pitched at $160 per share, the same level as ByteDance offered to employees in November, the people said, asking not to be named discussing a private matter.

It’s at a valuation roughly 11 per cent lower than ...