ByteDance's higher valuation reflects resilience amid upcoming US divestment of TikTok

TikTok owner ByteDance has initiated a new round of employee share buy-backs that give the company a higher valuation, even as it works on a deal to divest the video app's US operations amid geopolitical uncertainty. The latest repurchase programme, initially open to employees based in the United States last month and the rest of the world last week, priced the vested restricted stock units (RSUs) at US$200.41 per share, up 5.5 per cent from US$189.90 during the round held in April, according to two emplo ...