<p>ByteDance, the Chinese owner of short video platform giant TikTok, launched a share buyback this week for current and former employees, two people with direct knowledge of the matter said on Wednesday.</p>.<p>The buyback comes after ByteDance announced in April that it did not have imminent plans for a public listing. The company had planned to list some of its Chinese businesses including TikTok's Chinese version Douyin in Hong Kong, sources previously told Reuters.</p>.<p>Last week, company founder Zhang Yiming unexpectedly announced that he will step down as CEO, a move that comes as Chinese regulators are increasing scrutiny of the country's biggest technology firms.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/founder-of-tiktoks-owner-bytedance-stepping-down-as-ceo-987971.html" target="_blank">Founder of TikTok's owner ByteDance stepping down as CEO</a></strong></p>.<p>In an email sent to current and former employees this week, ByteDance said eligible shareholders can apply to sell their holdings by June 20 at $126 per share for current employees and $100.80 per share for former employees, the people said.</p>.<p>The price for current employees during an earlier buyback last November was $60 a share, the sources said.</p>.<p>Beijing-based ByteDance declined to comment.</p>.<p>The nine-year-old company typically launches share buybacks twice a year, the sources said, declining to be named as the information is not public.</p>.<p>Some ByteDance employees recently expressed frustration on social media for not being able to sell their shares in an IPO.</p>
<p>ByteDance, the Chinese owner of short video platform giant TikTok, launched a share buyback this week for current and former employees, two people with direct knowledge of the matter said on Wednesday.</p>.<p>The buyback comes after ByteDance announced in April that it did not have imminent plans for a public listing. The company had planned to list some of its Chinese businesses including TikTok's Chinese version Douyin in Hong Kong, sources previously told Reuters.</p>.<p>Last week, company founder Zhang Yiming unexpectedly announced that he will step down as CEO, a move that comes as Chinese regulators are increasing scrutiny of the country's biggest technology firms.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/founder-of-tiktoks-owner-bytedance-stepping-down-as-ceo-987971.html" target="_blank">Founder of TikTok's owner ByteDance stepping down as CEO</a></strong></p>.<p>In an email sent to current and former employees this week, ByteDance said eligible shareholders can apply to sell their holdings by June 20 at $126 per share for current employees and $100.80 per share for former employees, the people said.</p>.<p>The price for current employees during an earlier buyback last November was $60 a share, the sources said.</p>.<p>Beijing-based ByteDance declined to comment.</p>.<p>The nine-year-old company typically launches share buybacks twice a year, the sources said, declining to be named as the information is not public.</p>.<p>Some ByteDance employees recently expressed frustration on social media for not being able to sell their shares in an IPO.</p>