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Miguel Cordon · · 1 min readByteDance reportedly mulls US IPO for TikTok Global as Trump’s deadline inches closer
The filing of the IPO, which could potentially be one of the biggest tech stock market debuts given TikTok’s latest US$50 billion valuation, will be on a US stock exchange and could come within a year from now, the sources added.
Earlier this week, it was reported that ByteDance will be placing TikTok Global’s headquarters in the US after US President Donald Trump had threatened to ban the app in the country amid data privacy concerns.
According to multiple sources, ByteDance is set to be the majority shareholder of the American entity while other US-based firms are set to own minority stakes. However, Trump reiterated on Wednesday that he opposes ByteDance’s retention of majority ownership in TikTok.
The report stated that the White House and ByteDance have agreed to a term sheet regarding certain conditions of a deal but nothing has been approved yet by Trump. Oracle, which won the bidding for TikTok’s US operations, and potentially Walmart are expected to have at least a 60% share in TikTok Global, a source added.
Editing by September Grace Mahino
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