Chinese tech company Bytedance announced on Monday that TikTok Global, the new company to be launched with Oracle and Walmart in order to allow it to continue operating in the United States, will launch a public offering of shares to enhance its business structure and transparency.

In a statement, Bytedance said that TikTok Global will conduct a round before the Initial Public Offering (IPO) that will leave the Chinese company with an 80 percent stake in the new firm. EFE-EPA