Chinese Streamer Tencent Prepping For IPO

IPO In Late 2018

CHINA's largest music streaming company, TENCENT MUSIC ENTERTAINMENT GROUP, "is preparing what would be one of the biggest technology IPOs ever following the successful debut of its European counterpart, SPOTIFY TECHNOLOGY SA," reports THE WALL STREET JOURNAL.

The paper writes the webcaster plans to begin interviewing potential underwriting banks over the next month. The initial public offering could raise billions in proceeds according to insiders. It's expected to happen in the second half of 2018.

"TENCENT MUSIC’s offering could value the business in excess of $25 billion. This was the company’s value in recent private transactions," THE WALL STREET JOURNAL reported last month. "That was a sharp jump from its $12.5 billion valuation in late 2017 when Swedish music-streaming company SPOTIFY bought a 9% stake in the company as part of a share swap."

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