Tencent Music Entertainment had been working towards an IPO in the United States, but the Chinese company is reaching crunch time to do so before the year’s end. It has been laying the groundwork for an offering of up to $2 billion for several months. Tencent delayed its planned IPO until November in hopes that the market would be more settled when it launched. Now, sources have told Reuters that Tencent and its advisors have considered pushing the move back farther into 2019, since December is usually a tricky month for a company to go public in the States.
“Of course they want to get the deal done within the year, but meanwhile, they don’t want to rush for the listing. What they care about a lot is (getting) the right valuation, rather than the fast pace of the listing,” one of Reuters’ unnamed sources said.