ByteDance: Titkok Global plans Initial public offering of shares

On Monday, ByteDance announced that TikTok Global would hold an initial public offering of shares.

TikTok Global was established to prevent a ban on TikTok’s U.S. based operations, which has over 100 million active monthly users.

ByteDance also said that TikTok Global would perform a pre-IPO round, giving ByteDance an 80% stake in the company.