ByteDance has agreed to list TikTok on a US stock market at some point after its proposed partnership deal with American software group Oracle, as part of its effort to satisfy the Trump administration’s national security concerns with the video-sharing app, reported the Financial Times.
FT sources with direct knowledge of the matter said that an initial public offering in the US — and not in China or Hong Kong — was one of several commitments made by TikTok’s Chinese owner to avert a ban on the video-sharing app in the US.
The Trump administration was on Thursday reviewing the proposals, with a deadline looming for the app’s US operations to be sold to an American company, in line with an executive order from President Donald Trump. Oracle would take a minority stake in TikTok under the proposals, with ByteDance retaining majority ownership.