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Tencent Music delays IPO at least to November

Tencent Music Entertainment was slated to launch its highly anticipated IPO in the United States this month, but the latest rumors are that it has opted to postpone the action at least until November. Sources familiar with the music group’s plans told The Wall Street Journal that the company chose to wait in response to an unsteady market that would have a negative impact on the pricing. Continue Reading

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Tencent formally announces plans to spin off music division for stateside IPO

Tencent is slowly progressing with its plan to spin out its music branch into a standalone business that will eventually list in the United States. The latest move from the entertainment conglomerate was a filing this weekend with the Hong Kong stock exchange announcing its proposed change that would see Tencent Music Entertainment Group become a separate entity. Continue Reading

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Tencent Music reportedly eyeing an IPO in the United States

Tencent Music appears to be moving forward with plans for an IPO in the United States later this year. The Wall Street Journal (paywall) reported that Tencent Music will start interviewing underwriting banks over the next month. Sources predicted that the company could be valued at $25 billion on a U.S. stock exchange, which would make it the fourth-largest tech IPO in the country. Continue Reading