Tencent Music Underwriting Agreement

kenty9x | October 11, 2021 | 0

Tencent Music Entertainment`s IPO is back in motion, two months after the company postponed it amid a global sell-off. In an application for authorization, the company, China`s largest music streaming service, said it plans to offer 82 million American Depositary Shares (ADS), representing 164 million Class A common shares, for between $13 million and $15 each. This means that the IPO will potentially bring in up to $1.23 billion. Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China and manages the country`s very popular and innovative music applications: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music`s mission is to use technology to increase the role of music in people`s lives by enabling them to create, enjoy, share and interact with it. .