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Tag: Tencent Music

China’s Tencent Music Secures $1.1 Billion in US IPO
12Dec By Gauri SinghNo Comments
Market

China’s Tencent Music Secures $1.1 Billion in US IPO

China’s largest streaming company, Tencent Music has raised $1.1 billion in a U.S. IPO after it priced its shares at $13 a piece ahead of a listing on the Nasdaq. This development makes it one of the largest tech listings of the year, but the pricing is at the bottom end of its $13-$15 range indicating that the much-anticipated IPO has felt the effects of an uncertain market. The company is said to have paused the listing process, which it started in early October, for a time so choppy are the waters right now — and that’s not even mentioning a shareholder-led lawsuit that was filed last week. The company operates a constellation of music streaming services in China which span orthodox Spotify-style streaming as well as karaoke and live-streaming se...
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China’s Largest Music-Streaming Company Files For US IPO
3Oct By Gauri SinghNo Comments
Market

China’s Largest Music-Streaming Company Files For US IPO

China’s largest music-streaming company Tencent Music Entertainment Group has filed an initial public offering (IPO) in the United States under the symbol "TME". This is expected to be the biggest US IPO by a Chinese company. The company is expecting a valuation of about $25 billion. It includes Spotify-like digital streaming apps QQ Music, Kugou and karaoke app WeSing. The music company is expecting to raise an amount in its first IPO filings which is used to calculate registration fees. The final size of the IPO could be different. Market leader Spotify debuted in April and its shares rose nearly 13% on the first trading day. The company also reported a profit of $263 million on a revenue of $1.30 billion for six months ended June 30. Tencent owns 58.1% stake in Tencent Music, a...
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