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TikTok In Negotiations To Go Public On NYSE: Chinese Media

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TikTok In Negotiations To Go Public On NYSE: Chinese Media

Short-form video app TikTok is reportedly in negotiations to list on the Intercontinental Exchange Inc (NYSE: ICE)-owned New York Stock Exchange.

What Happened: The ByteDance-owned Chinese social media company is holding preliminary talks to list on the NYSE, as per a tweet from the state-affiliated Global Times newspaper, first noted on Reuters.

Why It Matters: Over the weekend, ByteDance walked away from a deal that involved selling TikTok’s U.S. operations to a group led by Oracle Corporation (NYSE: ORCL), the South China Morning Post reported

The deal, also involving Walmart Inc (NYSE: WMT), was postponed indefinitely by the Biden administration earlier in the month. 

The forced sale of TikTok to a U.S. company under the previous Trump administration was blocked by a federal court in December. 

Price Action: Intercontinental Exchange shares closed nearly 1.2% higher at $112.42 on Tuesday and fell almost 0.3% in the after-hours session. 

[Update] Global Times in a later tweet said ByteDance had denied being in talks for going public on the NYSE.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

 

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