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ByteDance plans TikTok IPO if U.S. clears deal: sources

·1 min read
FILE PHOTO: Small toy figures are seen in front of a Tiktok logo in this illustration taken
FILE PHOTO: Small toy figures are seen in front of a Tiktok logo in this illustration taken

NEW YORK (Reuters) - 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.

The filing of an IPO for TikTok Global, in which Oracle Corp <ORCL.N> 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.

(Reporting by Stephen Nellis in San Francisco and Echo Wang in New York; Editing by Chris Reese)