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Tencent Music Raises $1.1 Billion in U.S. IPO

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radiofacts.comTencent Music, the Chinese streaming giant, raised $1.1 billion in its American IPO. Its shares started trading today on the NYSE under the ticker TME. With its IPO price, TME's valuation is at $21.3 billion. A subsidiary of Tencent Holdings, its American IPO was originally prepared for launch in October but delayed as tensions between U.S. and China escalated. The $1.1 billion market entry is a relevant drop from the company's initial (but unconfirmed) $2 billion targets. Of 82 million American depositary shares (ADS), half will be sold by Tencent Music while the other half will be moved by current shareholders.

The IPO of Tencent Music is Being Halved

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Radio Facts: Chinese e-commerce giant Tencent is spinning off Tencent Music, announced in early July, but its IPO may be halved--raising $2 billion instead...

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