ByteDance’s New Office in Hong Kong Has Been Put into Use

On November 8th, according to STCN, ByteDance has leased and completed the decoration of the entire 37th floor of Phase I of Hong Kong International Financial Centre (IFC). Many employees have already moved in for work.

According to reports, the office located in IFC was revealed by employees of ByteDance. The office was put into use last month and covers an area of over 16,000 square feet. According to previous media reports, the rental price per square foot at IFC exceeds 120 Hong Kong dollars, which suggests that ByteDance’s monthly rent is over 2 million Hong Kong dollars (approximately $0.3 million). Currently, almost half of the workstations in ByteDance’s office at IFC are occupied, indicating that ByteDance may have established its business presence in Hong Kong and is likely to expand further.

In addition, ByteDance has initiated the second round of employee stock option repurchase this year. The pre-tax repurchase price for departing employees is $128 per share, while for current employees it is $160 per share, representing a 3% increase compared to the previous round’s price of $155 per share.

SEE ALSO: ByteDance’s PICO Announces Lay-off Plans