ByteDance is reportedly in early-stage talks to list some of its businesses including Douyin, its Chinese version of TikTok. CNBC reports that the company spoke with investment bankers to explore the possibility of an initial public offering (IPO) for some of its divisions.

The report however does not include a timeline or a listing venue. ByteDance had also spoken to both the Shanghai and Hong Kong stock exchanges, earlier in 2020.

Reuters reports that Investment banks have been doing research and analysis about a standalone IPO for Douyin, on behalf of the company. TikTok is not available in China but Douyin is its similar version in China. Douyin is hugely popular in China and it has over 600 million users.

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CNBC also cited a source that said apart from planning to list Douyin on the stock exchange, ByteDance could also list its other businesses like news aggregation service Toutiao.

ByteDance has come under fire and pressure to sell its US operations. The Donald Trump government alleges that TikTok poses serious national security concerns. The US says the personal data of 100 million Americans who use the app could be obtained by China’s government.

The Trump administration had issued an executive order banning the app from being downloaded in US app stores but it was blocked by a US District Judge. Judge Carl Nichols in Washington issued a preliminary injunction blocking the ban on 27th September 2020.

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