China’s ByteDance is planning an initial public offering of TikTok Global, its proposed new company for the popular short-video app, should the government in the United States give its approval to the plan, people familiar with the matter told Reuters News Agency on Thursday.

ByteDance is racing to clinch an agreement that will head off a US ban on TikTok that President Donald Trump has threatened could happen as early as next week.

Trump ordered ByteDance last month to divest TikTok amid US concerns that the personal data of as many as 100 million Americans who use the app could be passed on to China’s Communist Party government. On Wednesday, he reiterated he was opposed to ByteDance retaining majority ownership of TikTok. Read More..