It is reported that byte jump opens a new round of shareholder buybacks at US $160 per share, valued at about 70% of Tencent's market capitalization.
CTOnews.com ByteDance will buy back $5 billion worth of options from investors, according to a source who declined to be named, according to Securities Times e on Dec.6.
Reported that the repurchase price of $160 per share (CTOnews.com note: currently about 1146 yuan), the price and October this year ByteDance (ByteDance) employee option repurchase price is the same, corresponding to a valuation of about $268 billion (currently about 1.92 trillion yuan).
ByteDance's valuation is down about 10 per cent a year from its $300 billion valuation at the time of shareholder buybacks in September 2022. ByteDance has not responded to this post as of CTOnews.com.
Tencent had a market capitalisation of HK $2.96 trillion, or about US $380 billion, as of Dec.6. By contrast, the ByteDance valuation of the explosion is about 70% of Tencent's.
ByteDance (ByteDance) recently announced that its game business will shrink on a large scale in the light of the day. For games that have been launched and perform well, they will seek to divest under the condition of ensuring operation; for projects that have not yet been launched, except for a small number of innovative projects and related technology projects, they will be shut down.
Reuters also reported in November that people familiar with the matter revealed that ByteDance had been meeting with potential buyers to discuss the sale of its gaming division Mutong Technology.
