Tencent Music hits the road for $1.23bn IPO

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By Christie Ou
04 Dec 2018

Tencent Music Entertainment Group has begun bookbuilding for its long-awaited $1.23bn IPO in the US, around two months after first gauging investor appetite.

The offering comprises 82m American Depository Shares (ADS), half of which are primary and the remaining secondary. They are being pitched at a price range of $13-$15 a share on the New York Stock Exchange. The IPO also has a 15% greenshoe option, which if exercised will boost ...

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