ByteDance plans TikTok IPO as US deal talks advance: Sources

WASHINGTON - China's ByteDance is planning a US initial public offering of TikTok Global, the new company that will operate the popular short video app, should its proposed deal be cleared by the White House, people familiar with the matter said on Thursday .

The new company, dubbed TikTok Global, will have a majority of American directors, a US chief executive and a security expert on the board, the source added. An IPO of TikTok would be one of the technology sector's biggest-ever stock market debuts, given that the app was recently valued by ByteDance investors at more than US$50 billion .The filing of the IPO would be on a US stock exchange and could come in about a year, the sources said.

White House Chief of Staff Mark Meadows said on Thursday that the administration is still looking at details of the deal and whether it meets national security thresholds.

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