(Yicai Global) Oct. 26 -- ByteDance Technology confirmed that it is considering listing a part of its business in Hong Kong after a media report said the TikTok owner is looking at an initial public offering of shares in the short-video app's Chinese version.

But the Beijing-based company has not decided conclusively on an IPO, it told Yicai Global today. ByteDance gave no further details.

The company is looking at floating Douyin -- known as TikTok abroad -- in Hong Kong, tech media 36Kr reported yesterday, citing an informed source. An offering could value Douyin at USD100 billion, Reuters said in July, citing people familiar with the matter.

Douyin’s biggest rival Kuaishou will go public in Hong Kong in the first quarter of next year, with Bank of America and Morgan Stanley as sponsors, per previous media reports.

Douyin had over 600 million daily active users as of August, while Kuaishou’s DAU topped 300 million at the start of the year. The two apps have raised investment in e-commerce live streaming and medium and long videos, as well as short ones.

With a valuation of CNY560 billion (USD83.8 billion), ByteDance held on to second place in the Hurun Global Unicorn List that the Hurun Research Institute released in August. Kuaishou came eighth with CNY195 billion.

Editor: Ben Armour