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China Specter Jolts ByteDance Backers to Try Trimming Stakes

Source: yahoo.com yahoo.com
News Snapshot:

(Bloomberg) — A handful of investors rattled by China’s sweeping regulatory changes are looking to offload private stakes in TikTok parent ByteDance Ltd., according to advisory firm Setter Capital. “People are seeing there is increased risk with China right now, especially if the regulations mean companies can’t IPO when they want,” said Prab Rattan, vice president at Setter, which helps asset managers buy and sell shares of private companies on the secondary market. “They want to take some money off the table.” China has placed wide-ranging reforms across a number of industries. Last week, authorities vowed tighter oversight of overseas…

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