ByteDance’s Latest Employee Buyback Offer Higher at $160 a Share
- The price is up from April’s employee buyback of $155 each
- ByteDance has grown at expense of incumbents Meta and Tencent
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ByteDance Ltd. has offered to buy back employees’ shares at a price 3% above a previous exercise, aiming to boost morale while conveying confidence about the social media leader’s prospects.
The owner of TikTok and Douyin emailed staff Wednesday with an offer to buy back stock at $160 per share, up from $155 in the buyback program seven months earlier, according to a person familiar with the matter, who asked not to be named as the matter is private.