ByteDance Offers to Buy Back Employees’ Shares for $155 Apiece
(Bloomberg) — ByteDance Ltd. offered to buy back shares from employees, ramping up efforts to boost staff morale after plans for an initial public offering stalled.
The Beijing-based company, parent of the hit TikTok video app, informed employees Wednesday that it will repurchase shares at a price of $155 per restricted stock unit to help those who need to monetize their equity, according to an internal memo seen by Bloomberg News. The program, beginning immediately, marks the company’s second round of employee share buybacks in 2022, exceeding previously offered prices, according to a person familiar with the plan who asked not to be named discussing private matters.
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