Tencent Music explores mega IPO
Tencent Music explores mega IPO. Following the successful debut of its European counterpart Spotify, Tencent Music is reviewing plans for an IPO that could top $25B, WSJ reports. Potentially coming in the second half of 2018,
it would be one of the largest deals of the year. While the IPO is expected to list in the U.S., Tencent Music is unlikely to make a final venue dec Spotifyn before the summer.
The WSJ story said the Tencent Music offering could esteem the business as high as $25 billion, which was its evaluated an incentive in late private exchanges. That cost mirrors a sharp ascent in esteem from the $12.5 billion evaluations when Swedish music streamer Spotify purchased a nine percent stake in it as a major aspect of a 2017 offer swap.
In the event that the IPO achieved that grand valuation, it would turn into the fourth-biggest US-recorded tech IPO on record, the WSJ asserted.
The Tencent Music spilling bargain is making a buzz as a result of its association with Tencent Holdings, one of China's greatest organizations.