ByteDance has offered to buy shares held by employees outside the US for about $171 each, in a broad extension of a buyback programme it launched in the US in March, according to internal documents seen by the Financial Times.
In a global bulletin to staff on Wednesday, ByteDance, the Chinese company that owns TikTok, said it had “received feedback that some employees would like this opportunity to meet their cash and liquidity needs”.
ByteDance last offered to buy its global employees’ shares in December for $160 each. Employee shares that vested in the first quarter of this year are worth $176, according to documents seen by the FT, meaning that ByteDance’s internal valuation may have grown since the start of the year, although this does not take into account any dilution of its shares.