ByteDance Plans To Conduct An IPO Of TikTok In The US
The Chinese Corporation ByteDance plans to conduct an IPO of the TikTok video service in the United States if it manages to coordinate its plan with the American authorities, according to Reuters, The Wall Street Journal, and other media, citing their sources.
The plan also calls for the creation of a new company, TikTok Global, which will manage the video service, and the sale of shares in it to US companies Oracle and Walmart. According to sources, Oracle will own a minority stake, which will include less than 20% of TikTok Global, the estimated share of Walmart is unknown. But given the current American shareholders of the company, this should lead to the fact that companies from the United States will own a controlling stake in the service. According to sources, part of this plan is to hold The Tiktok Global IPO in the United States next year.
In early August, US President Donald Trump signed a decree "on combating the threat of TikTok," effectively prohibiting the company's activities in the US. ByteDance has recently been actively negotiating the sale of a stake in the service to American companies — such negotiations were conducted with Microsoft, Oracle, and Walmart. It is expected that in the near future, Donald Trump will express his opinion on the current plan. Earlier, he expressed dissatisfaction with the terms of the ByteDance and Oracle deal, but then it was about maintaining the Chinese company's majority stake in the service.