Tencent Music Entertainment is going public
Tencent, the giant of digital music, is reahing the stock exchange in the United States.
Tencent Music Entertainment (TME), which is majority-owned by massive Chinese corporation Tencent, according to an unverified (but seemingly well-informed) scoop from China-based news group Sina, is readying an application for an IPO in the US this week.
Music Business Worldwide reports that sources suggest that TME will file an IPO application with the US Securities and Exchange Commission on Friday (July 6) – officially beginning the firm’s listing process.
The IPO’s lead underwriters are said to be Goldman Sachs and Morgan Stanley.