5 Things To Know About Tencent Music Entertainment's Ipo

newsfeedback@fool.com (Leo Sun), The Motley Fool
Thu, 07/12/2018 - 7:00am

Chinese tech giant Tencent (NASDAQOTH: TCEHY) plans to spin off its streaming music unit, Tencent Music Entertainment (TME), in a U.S. IPO, according to a recent company filing. This move would be surprising, since shares of Tencent and its digital books spin-off, China Literature, only trade in Hong Kong.Tencent hasn't released any additional details about TME's IPO yet, but previous reports suggested that the IPO could raise $1 billion and value the company at $30 billion.

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