Tencent Music to launch IPO in H2, valuation to top USD 25 bln - report

News Wireless China 23 APR 2018
Tencent Music to launch IPO in H2, valuation to top USD 25 bln - report
Chinese music streaming company Tencent Music Entertainment Group plans to launch an initial public offering (IPO) in the second half of 2018, The Wall Street Journal reports, citing people familiar with the matter. According to the same source, Tencent Music will interview potential underwriting banks in May. Tencent Music's offering could value the business in excess of USD 25 billion.

Tencent Music is expected to list in the US. However, the final decision on the venue of the deal is not yet determined. Set up in mid-2016, Tencent Music reports it currently has 700 million monthly active users across personal computer and mobile platforms.

Categories:

Mobile,  Internet

Companies:

Tencent

Regions:

Global

Countries:

China

Tags:

Finance

Related Articles

GLOBAL 4 APR 2019

Tencent prices USD 6 bln bond offering

Tencent has priced its offering of USD 6 billion worth of notes. The company said it intends to use the money raised to refinance, with the rest going towards general corporate purposes. Tencent CFO John Lo noted that the company has a strong balance sheet and a significant cash position. Going forward, it will continue to exercise financial discipline focus on maintaining the right balance between capex, investments and returns.

CHINA 15 OKT 2018

Tencent Music delays IPO after stock market turmoil - report

Tencent has shelved plans to list its music business until at least November due to the recent sell-off on global stock markets, people familiar with the offering told the Wall Street Journal. The company was expected to kick off its roadshow to sell shares to investors this week and start trading the week of 22 October.

CHINA 3 OKT 2018

Tencent Music files for IPO in US

Tencent Music has filed for an initial public offering of shares in the US, to raise up to USD 1 billion. Tencent is expected to maintain a controlling stake in the company after the listing. 

UNITED STATES 9 JUL 2018

Tencent starts procedure to list music unit in US

Tencent announced it has made a regulatory filing to spin off and list its online music operations in the US. No terms for the proposed spin-off, including offering size, price range and entitlement of Tencent Music securities for the company's shareholders, have yet been finalised, Tencent said, adding that it will make further statements on the matter in due course. 

CHINA 16 MEI 2018

Tencent advances revenues 48%, profit over 60% in Q1

Chinese internet group Tencent said revenues for the first quarter leaped 48 percent year-on-year to CNY 73.528 billion. All businesses contributed to growth, with revenues going up 340 percent at Value Added Services, and rising 26 percent at online games. The increase there was mainly driven by growth at smartphone games, including existing titles such as Honour of Kings and newly launched titles MU Awakening and QQ Speed Mobile. PC client game revenues were broadly while social network revenues advanced

GLOBAL 24 APR 2018

Streaming grows to biggest source of music industry revenue in 2017

Streaming services became the biggest source of revenues for the global music industry last year, accounting for 38.4 percent of total recorded music revenues in 2017, the industry group INPI reported. Streaming revenues grew 41.1 percent last year, driven by 176 million users of paid subscription accounts. 

CHINA 23 APR 2018

Tencent Music in H2 naar de beurs; 25 miljard dollar waard

De Chinese stremaing muziekdienst Tencent Music Entertainment Group bereidt een beursgang voor (IPO) voor de tweede helft van 2018, schrijft the Wall Street Journal. Volgens bronnen van het medium zal Tencent Music in mei rond de tafel gaan met een aantal banken.

CHINA 10 APR 2018

Ant Financial set to raise USD 9 bln from private investors - report

Ant Financial, the m-payment services provider carved out of Alibaba Group, is preparing to raise USD 9 billion in a private funding round, people familiar with the matter told the Wall Street Journal. The amount was increased from an initial target of USD 5 billion. 

CHINA 9 MRT 2018

Foxconn gets regulatory approval for USD 4.3 bln IPO launch

Foxconn Industrial Internet has received approval from China's securities regulator to raise capital through an initial public offering. The unit of Taiwan's Hon Hai Precision Industry has been approved by the China Securities Regulatory Commission to raise CNY 27 billion (approximately USD 4.3 billion) in an IPO, South China Morning Post reports, citing a statement from the regulator. Foxconn filed its stock-sale application on 1 February.

UNITED STATES 5 MRT 2018

Xiaomi wants to bring smartphones to the US by early next year

Xiaomi hopes to introduce its smartphones to the US market by the end of this year or the beginning of 2019, chairman Lei Jun told the Wall Street Journal during China's legislative session in Beijing. Xiaomi is present on the US, but only for internet-connected devices like speakers, cameras and electronic scales. Lei acknowledged that expanding overseas is not easy and that Chinese companies need to spend time getting to understand local laws and regulations, as well as consumer needs, he said. He decline

CHINA 1 MRT 2018

Xiaomi to raise at least USD 10 bln in IPO, may list also in China - report

Chinese authorities have asked smartphone maker Xiaomi to list its shares on the mainland, people familiar with the situation told the Wall Street Journal. It already plans a Hong Kong initial public offering for the second half of the year and may consider a dual listing.

CHINA 28 FEB 2018

Baidu's VoD service iQiyi files for USD 1.5 bln IPO in US

iQiyi, the Chinese VoD service owned by Baidu, has filed for an initial public offering of shares in the US. The company claims over 50 million subscribers and said it wants to raise USD 1.5 billion to help expand its content offering. 

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.