RUMOR MILL
Back to Rumor Mill >
Monday, April 30, 2018

TENCENT READY TO TALK IPO WITH BANKS

Tencent Music in China will start interviewing banks for a position in its Stateside IPO that could be worth as much as $4b.

Bringing focus to the Chinese streaming giant’s plans, Thomson Reuters’ IFR reported that Tencent is looking to go public in the U.S. by the end of the year, and is seeking an IPO valuation of about $25b. Tencent had explored a Hong Kong listing, but new rules regarding weighted voting rights pushed them toward a U.S. market.

Based on filings from Spotify, which swapped stakes with the company last year, Tencent Music had a valuation of $12.3b in late 2017. Just as Spotify has perked up since going public, it’s now valued at about $28b, that valuation is not out of line. Stay tuned.

 
BACK TO RUMOR MILL
 
SPOTIFY Q1 PROFIT TOPS $1B; SUBS HIT 239M
How Swede it is. (4/23a)
Check It Out Now
HITS LIST IN
PLAYOFF MODE
Will scoring records be broken this week? (4/23a)
Check It Out Now
THE COUNT: ALL THE DESERT'S A STAGE
The dust settles on the Indio Polo Grounds. (4/22a)
Check It Out Now
ROCK HALL UNVEILS
2024 INDUCTEES
Class of '24 comes alive. (4/22a)
Check It Out Now
TOP 20: TAYLOR TIME
Is it ever. (4/23a)
Check It Out Now
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions