TENCENT READY TO TALK IPO WITH BANKS

Tencent Music in China will start interviewing banks for a position in its Stateside IPO that could be worth as much as $4b.

Bringing focus to the Chinese streaming giant’s plans, Thomson Reuters’ IFR reported that Tencent is looking to go public in the U.S. by the end of the year, and is seeking an IPO valuation of about $25b. Tencent had explored a Hong Kong listing, but new rules regarding weighted voting rights pushed them toward a U.S. market.

Based on filings from Spotify, which swapped stakes with the company last year, Tencent Music had a valuation of $12.3b in late 2017. Just as Spotify has perked up since going public, it’s now valued at about $28b, that valuation is not out of line. Stay tuned.

BACK TO RUMOR MILL

		HITS LIST IN BLOOM From the desert to the sea (4/16a) Check It Out Now ON THE COVER: AARON BAY-SCHUCK AND TOM CORSON Bunny's hoppin' again. (4/15a) Check It Out Now DESERT HEAT: PAUL TOLLETT The cat in the hat is calling the shots. (4/15a) Check It Out Now THIS HITS PHOTO GALLERY IS WANDERING IN THE DESERT Photographic proof of the weaselfest (4/15a) Check It Out Now THE COUNT: SUPERSTARS TO SURPRISE AT COACHELLA? The latest tidbits from the vibrant live sector (4/12a) Check It Out Now
		THE NEW UMG Gosh, we hope there are more press releases. TIKTOK BANNED! Unless the Senate manages to make this whole thing go away, that is. THE NEW HUGE COUNTRY ACT No, not that one. TRUMP'S CAMPAIGN PLAYLIST Now 100% unlicensed!

rumor mail

Email

First Name

Last Name

Company

Country
CAPTCHA code

Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions

TENCENT READY TO TALK IPO WITH BANKS

Modal