Deals
Tencent Music Guides Pricing Around Midpoint in $1.2 Billion IPO
- Chinese streaming music giant to stop taking orders Tuesday
- Deal adds to best year for Chinese listings in U.S. since 2014
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Tencent Music Entertainment Group, China’s largest music-streaming service, is guiding potential investors that it could price its $1.2 billion U.S. initial public offering around the midpoint of a marketed range.
The company sees price sensitivity in the middle of the range based on current orders, according to a message communicated to fund managers Tuesday. The final price hasn’t been set yet and the pricing level is subject to change.