Tencent Music Prices Its IPO at Bottom of Range
Tencent Music Prices Its IPO at Bottom of Range
Tencent Music Entertainment Group priced its IPO at the low end of expectations, capping a rocky process of going public but still marking one of the biggest U.S.-listed debuts in recent years.
The Chinese music-streaming company’s initial public offering priced at $13 per American depositary share Tuesday afternoon, the bottom end of its $13-to-$15 expected range. The offering raised roughly $1.1 billion for the company and its selling shareholders.
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