TikTok may file US IPO if Oracle deal approved by White House

Oracle CEO Larry Ellison is a close friend of President Trump

If the trusted partnership between TikTok and Oracle gets approval by the White House, TikTok Global will file for an initial public offering on a U.S. exchange in the next 12 months, according to people with direct knowledge of the matter.

Continue Reading Below

ORACLE-TIKTOK DEAL ON THIN ICE WITH WHITE HOUSE ADVISORS DIVIDED

TickerSecurityLastChangeChange %
ORCLORACLE CORPORATION59.16-0.49-0.83%

The IPO, which could land on the New York Stock Exchange or Nasdaq exchanges, is designed to assuage Trump Administration officials the short video platform intends to be largely owned not by the Chinese, but by U.S. investors.

TickerSecurityLastChangeChange %
ICEINTERCONTINENTAL EXCHANGE INC.99.95+0.45+0.45%
NDAQNASDAQ OMX GROUP INC131.76-0.61-0.46%

This news comes as TikTok and Oracle’s deal awaits the President’s blessing.

This is a developing story.