TikTok may get $330-billion valuation in new share buyback

Hong Kong: TikTok owner ByteDance is preparing a new employee share buyback that values the Chinese tech giant at more than $330 billion, three people familiar with the matter said, citing strong revenue growth.

The company plans to repurchase shares at $200.41 each, up 5.5% from the $189.90 price it offered staff six months ago, which then valued the firm at around $315 billion. The latest buyback is expected to launch this autumn.