By Corrie Driebusch The Wall Street Journal Maureen Farrell Tues., Dec. 11, 2018 Tencent Music Entertainment Group is set to go public in one of the biggest U.S.-listed IPOs in recent years, capping a rocky IPO process for the Chinese music-streaming company. Tencent Music’s initial public offering is slated to price Tuesday evening despite recent swings in the stock market. The company’s American depositary shares are on track to price at the midpoint or low end of the company’s $13-to-$15 (U.S.) expected range, according to people familiar with the offering. At the $14 midpoint, Tencent Music would be valued at $22.9 billion on a fully diluted basis, according to Dealogic. That would make it one of the largest traditional IPOs by market value in the U.S. since Alibaba Group Holding Ltd. went public in 2014 at a whopping $169.4 billion. At $13 an ADS, Tencent Music would be valued at $21.3 billion. Tencent Music is part of internet giant Tencent Holdings Ltd. and operates several popular apps including QQ Music and an online karaoke platform. Its road to public markets has been a turbulent one, and the valuation it will likely fetch is lower than the $25 billion to $30… Read full this story
- Listen to Phil Kline’s ‘Every Night at 7,’ a Musical Tribute to Our Evening Ritual
- Why the Music Business Should Be Looking Closely at Fortnite and Epic Games
- Google wants Australia to remove civil penalties from CLOUD Act-readying Bill
- 10 Mother’s Day Gifts for Moms Who Love Music
- Engineering, empathy, music: This week's top picks for digital academic resources
- George Jones to Janis Joplin, East Texas has its own musical world
- Tony winner finds you can still build a musical online
- Bill & Ted Face the Music Finds Its Princesses in Erinn Hayes & Jayma Mays
- Pedro, 79, was 'ready to throw in the towel' over Covid-19. Then thousands stepped in to cheer him up
- My back pages: how Dylan’s Bootleg Series illuminates his past
Tencent Music readies its IPO after a turbulent process have 316 words, post on www.thestar.com at December 11, 2018. This is cached page on xBlogs. If you want remove this page, please contact us.