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ByteDance Plan for U.S. TikTok Company Envisions IPO in a Year

  • Treasury, ByteDance, Oracle agreed to revised terms for deal
  • Trump or Chinese government could still block transaction
TikTok

TikTok

Photographer: Andrew Harrer/Bloomberg
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The new U.S. company that TikTok’s owner ByteDance Ltd. plans to form with Oracle Corp. intends to hold an initial public offering in about a year, according to people familiar with the matter.

The new company, which would be called TikTok Global, according to Treasury Secretary Steven Mnuchin, will be the result of a transaction forced by President Donald Trump last month because of national security concerns about TikTok’s Chinese ownership. Bloomberg News reported earlier that the Treasury Department, ByteDance and Oracle agreed to terms for the deal late Wednesday.