TikTok Owner ByteDance Offers to Buy Investors’ Shares After Scrapping IPO Plan

SINGAPORE—China’s ByteDance is providing to purchase again shares from its traders, permitting them the prospect to money in after the TikTok proprietor dominated out plans for an preliminary public providing.

The Beijing-based firm will spend as much as $3 billion in money to repurchase shares from present shareholders at a value of as much as $176.94 a share, based on a memo despatched to traders and seen by The Wall Road Journal. The deal would worth the corporate at round $300 billion, which is greater than a lot of the current affords within the private-equity secondary market, individuals conversant in the matter mentioned.