TikTok owner ByteDance hires CFO in a step towards IPO

FILE PHOTO: The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

BEIJING/HONG KONG (Reuters) - TikTok owner ByteDance has hired Xiaomi executive Shou Zi Chew for a newly created role as chief finance officer, in a sign that the tech company is moving towards a much-anticipated initial public offering of one or some of its businesses.

ByteDance has been considering whether to go for a standalone public listing for Douyin, the Chinese version of TikTok, or list some of its Chinese operations, including Douyin and news aggregator Jinri Toutiao, as a package in Hong Kong or Shanghai, Reuters has reported.