Sources said ByteDance has submitted an underwriter engagement letter to the Hong Kong Stock Exchange and started the process of listing in Hong Kong.

From sources close to the transaction, TikTok’s parent company, ByteDance will submit a listing prospectus to the Hong Kong Stock Exchange in the second quarter of this year.

The market currently believes that the reasonable listing pricing is $300 billion. And in the private equity market, stimulated by the news that ByteDance will go public, the price of shares sought is valued at nearly $400 billion.

In this regard, the company said no comment. However, some people said that the news is true.

In addition, several ByteDance employees said that it would soon start a new share option plan for its employees. the employees in main positions can optionally exchange their year-end bonuses for ByteDance’s untraded stocks at $126 per share, a 70% discount comparing with $180 in the external market.

Previously, there is news that the IPO preparation of ByteDance has been speeding up, and is expected to be listed in the United States in June or July.