Quantcast

CHINA'S STREAMING GIANT EYES AN IPO

China’s largest music-streaming company, Tencent Music Entertainment Group, is following the lead of Spotify and preparing an IPO that could value the company at more than $25b.

The Wall St. Journal reported that internet behemoth Tencent Holdings, the parent company of Tencent Music, will spend the next month interviewing banks that could underwrite the IPO.

Tencent Holdings is listed in Hong Kong, but the IPO could be listed in the U.S., a decision that is months away. The launch is could take place later this year.

Spotify bought a 9% stake in the company as part of a share swap late last year when Tencent Music was valued at $12.5b. After an up-and-down first week after its direct listing on 4/3, Spotify has seen a steady rise since opening at $149.50 on 4/13; the stock opens today at $158.45.

Tencent Music, created in mid-2016, has piqued investors’ interest as it dominates the marketplace with 700m monthly active users. Tech IPOs are generally popular as they often offer potential for growth once they receive the cash infusion of the stock listing. Stay tuned.

COME ALL YE FAITHFUL
Have Kanye and the Grammys made up? (10/20a)
ADELE GETS HER FIRST TV SPECIAL
Sussman gets the collar. (10/19a)
SONG AND RECORD OF THE YEAR: OUR GRAMMY PREDICTIONS
Beer and Glickman collaborate on the Spot. (10/20a)
"EASY" IMPACT: ADELE'S AIRWAVE TAKEOVER
Another domino falls. (10/18a)
A MOVING HITS LIST
For Adele, it's "Easy," for the Grammys, not so much. (10/20a)
ADELE ADELE ADELE
Adele; Adele Adele?
ADELE ADELE ADELE ADELE ADELE ADELE
A... dele?
ADELE ADELE
Adele Adele; Adele.
ADELE ADELE ADELE ADELE
(Adele.)
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)