TikTok may file US IPO if Oracle deal approved by White House
Oracle CEO Larry Ellison is a close friend of President Trump
President Trump on possible deal between Oracle and TikTok.
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.
ORACLE-TIKTOK DEAL ON THIN ICE WITH WHITE HOUSE ADVISORS DIVIDED
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ORCL | ORACLE CORP. | 183.71 | -3.37 | -1.80% |
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.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ICE | INTERCONTINENTAL EXCHANGE INC. | 155.54 | -0.94 | -0.60% |
| NDAQ | NASDAQ INC. | 78.76 | +0.70 | +0.90% |
This news comes as TikTok and Oracle’s deal awaits the President’s blessing.
This is a developing story.