China’s ByteDance is planning a U.S. initial public offering of TikTok Global, the new company that will operate the popular short video app, should their proposed deal be cleared by the White House, people familiar with the matter said on Thursday, Trend reports citing Reuters.
The filing of an IPO for TikTok Global, in which Oracle Corp would also own a stake, would be on a U.S. stock exchange and could come in about a year, the sources said, requesting anonymity because the matter is confidential.
ByteDance and Oracle did not immediately respond to requests for comment.