China-based Tencent Music eyes $2B IPO
China-based Tencent Music eyes $2B IPO
Tencent Music Entertainment Group, China’s biggest music-streaming company, is reportedly seeking to raise about $2 billion in a U.S. listing, down from the up to $4 billion that had been touted earlier.
Tencent Music had earlier been seeking to raise between $3bn and $4bn, Thomson Reuters publication IFR reported, which would have made it the biggest Chinese float in the US so far in 2018, ahead of streaming company iQiyi’s $2.42bn initial public offering (IPO) in March.
