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TENCENT DELAYS IPO: REPORT

With global markets in a volatile state, China’s Tencent Music Entertainment Group is delaying its IPO until November or beyond, The Wall Street Journal reports.

The music-streaming company had planned to roll out the week of 10/22 but chose to delay after concerns about meeting the expected price range, the Journal reported. Tencent Music was expecting a valuation between $25b and $30b; it was valued last year at $12.5b.

China’s markets have been pounded recently, and the the growing trade squabbles between the U.S. and China have had an even greater imnpact on tech-related companies.

Tencent Music’s parent company, Tencent Holdings, has felt the sting: Its stock price is down 34% this year.

 

 

iHEARTRADIO AWARDS:
SPREADING THE LOVE
We've got winners. (3/15a)
HITS LIST IS RADIOACTIVE
It's dialed in. (3/15a)
THE ROOTS OF ROCK &
SOUL, SONG BY SONG:
REAPING THE HARVEST
Ready to shake, rattle and roll? (3/15a)
SONG REVENUE CHART:
MONTE IS MONEY
Location, location, location. (3/15a)
A TASTE OF RAINMAKERS:
ALLEN GRUBMAN
A high-flying legal eagle (3/15a)
THE NEXT RECORDING ACADEMY HEAD IS...
(The envelope, please.)
IT'S NOT JUST ABOUT MARKETSHARE
But it is, really. Isn't it?
WHAT IF I DON'T STREAM?
First of all, don't panic.
WHO ORDERED THIS PIZZA?
Seriously, come get it now or we're eating it.
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