Byte beating plans to hold the listing plan?Why is China's largest unicorned beast suddenly not listed?

In the Chinese science and technology market, bytes are undoubtedly the most watched company in the market. As the highest -valued unicorn giant in China, when the bytes that have not been listed have been listed, it has been repeatedly mentioned. However, just recently, the famous byte beating has suddenly announced that the listing plan has been put on hold. Many people are strange. Why is China's largest unicorn giant suddenly not listed?

1. Byte beating plans to hold the listing plan?

According to titanium media reports, the listing plan of byte beating has been put on hold, and the company will formally repurchase shareholders 'shares and expand employees' reserved rights pool. A person familiar with the matter revealed to the Titanium Media APP on the evening of September 16 that the above -mentioned related matters have been approved by the Board of Directors and will be submitted to the shareholders' meeting in the near future.

According to this plan, the byte beating will use cash of not more than $ 3 billion, and repurchase some of the current shareholders of the existing shareholders. Application for each shareholding ratio.

Since 2017, bytes are beating to provide employees with option repurchase opportunities each year to meet the realization of employees' realization needs. The most recent repurchase occurred in April this year. Compared with employee repurchase, the shareholders' stock repurchase plan is the first time for byte beating.

According to interface news reports, bytes were established in 2012 and experienced many rounds of financing in ten years. According to the company's articles of association, if the company has not been listed, then from November this year, some preferred investors have the right to ask the company to redeem their equity with cash. As the redemption period comes, byte beating opens the shareholders 'stock repurchase plan, or delayed the listing plan to meet the needs of investors' capital return.

The shareholders' stock repurchase plan is the first time for byte beating. People familiar with the matter said that shareholders' stock repurchase should be disposable, mainly to meet the company's demand for liquidity without the company's launch, and solve the problem of the expiration of the redemption clauses.

At the same time, after being put on the market, the byte beating will also expand the employee reserved power pool. The above -mentioned people who are familiar with the matter said that the shareholders' meeting will also amend the employee option incentive plan. The plan was originally expired on August 1 this year, and this time will extend the deadline for 10 years. At the same time, the byte beating will take out 1%of the company's entire shares to expand the employee reserved power pool, and employees have the opportunity to get more company stocks. Not long ago, the byte beating reduced the option to be granted to $ 155 per share, and a special option was specially issued to 30,000 employees, which also means that bytes can get stocks at a lower price at a lower price.

According to incomplete market statistics, the cumulative financing amount of byte beating exceeds US $ 7 billion. Investors include Sequoia China, SoftBank Vision Fund, Yunfeng Fund, KKR, Source Capital, Morning Capital, SIG Haina Asia, Shunwei Capital , Jianyin International, Pan -Atlantic Investment, Chunhua Capital, Tiger Fund, etc.

According to the company's articles of association, if the company has not been listed, then from November this year, some preferred investors have the right to ask the company to redeem their equity with cash. Therefore, the time of byte beating to open the shareholders' stock repurchase plan is also when the period of redemption of shareholders is coming.

Second, China ’s largest unicorn is suddenly not listed?

To be honest, many people will feel very puzzled when they see the current beating. In fact, as early as May of this year, according to media reports, the Hong Kong Company Registry website shows that bytebele (Hong Kong) Co., Ltd. has been renamed as renamed as the renamed as a renamed to renamed it to the name of Douyin Group (Hong Kong) Co., Ltd., the effective time is May 6, 2022. At that time, many media were guessing that this was the preparation of byte beating for listing, but no one expected that it was a few months. Shareholders. So, what should the byte beating?

First of all, it is not a good time to go public now. In fact, not only byte beating, many quasi -listed companies are preparing to be listed, and even some quasi -listed companies that have already handed their tables. Recently, there are some practices that have been withdrawn or delayed listing. The root cause is the current capital market. Not friendly to technology stocks.

According to 36 氪, starting in 2021, the Internet dividend will be exhausted, global regulatory tightening, and the Federal Reserve ’s interest rate hikes are superimposed. Chinese stocks and Nasdaq have plummeted collectively. The prosperity, as well as the entire growth of the past decade or even twenty years due to bonus.

In fact, media reports are only on one aspect. On the other hand, almost all well -known investment institutions are predicted to the current market decline of science and technology stocks. As soon as the news of the 2 million users lost 2 million users in this year, the entire market has triggered the entire market. The panic is not just Nai Fei. The major technology giants are more or less under tremendous pressure. Famous technology stock companies have considerable problems. On June 13 this year, the three major stock indexes of the US stocks were empty and low. After the opening, it hit a new low in the past year. It can be said that technology stocks have entered a bear market. It is an indisputable fact.

For companies such as byte beating, in the face of the current dilemma of technology stock markets, choosing to suspend listing is actually a relatively wise choice. After all, technology stocks are so poor. The time node is listed, and the result of obtaining a possible break or decline is better to maintain mystery. It may be more conducive to the development of byte beating. Secondly, listing and non -listing are always the double -edged swords for the development of science and technology giants. We know that among the top 500 companies in the world, there have always been companies that have not been listed. For example, the familiar Mars Group has always chosen not to be listed. Of course, technology stock companies have always chose to go public. It is said that listing and not listed are a double -edged sword.

From the perspective of not being listed, not listing can allow companies to always be in a relatively mysterious state. It does not need to disclose the development data of enterprises to the market, so that it does not need to accept too much risk. If the track where this company is located is good enough, it is also a pretty good choice if it is not listed. After all, although listing can bring more financing channels and more funds, it also means more supervision.

From the perspective of listing, the listing of enterprises can have more advantages, as we said earlier, but for technology stock companies, listing means that the company's realization channel is because of the development process of technology companies that often need to introduce in the development process. A large amount of venture capital and capital entry also need to continuously motivate equity to drive their employees. Listing can undoubtedly help investors and employees of enterprises to achieve real realization. This is why many technology companies must be on the road to listing.

Therefore, for technology companies, listing and not listing can be described as their own benefits. Whether it is listed is actually a between.

Third, what should we think of the byte beating. What should we think? Since, it is not a good time to go public at present, and for byte beating, it is also possible to go public and not listing. Now it ’s a matter of fact that it is logical to choose not to go public. However, from a series of operations of byte beating, he has many market layouts in his non -listing::

The first is to use the repurchase plan to stabilize investors. In fact, the repurchase plan of byte beating is actually a very good chess. On the one hand, you can use repurchase to provide investors with an exit mechanism, so that investors can withdraw, and on the other hand Very stable cash flow does not need to be listed financing. This approach can effectively convey confidence to the market to consolidate investors' confidence, so that those investors who have not yet expired can believe the company more.

The second is to stabilize employees with continuous repurchase. This repurchase is actually for investors, and the bytes are actually constantly stabilizing the equity of employees. Over the years, employees inside the bytes of the bytes are always very stable. This also helps byte employees. more stable.

However, for a long -term perspective, the listing of byte beating is still an inevitable event. It is estimated that it will still wait until a better time to start its own listing.

- END -