China Tencent Music Applies To The List In The United States

Chinese company Tencent Music has filed a highly anticipated demand for listing its shares in the United States, as part of what could be one of the largest US initial public offerings of a Chinese company.

The parent company of Tencent Music is the Chinese technology giant Tencent Holdings. Among the other shareholders, there is Spotify.

It includes digital streaming applications QQ Music, Kugou and WeSing karaoke application.

The listing application comes in the context of the growth of the online music industry, despite some persistent problems related to hacking.

More and more listeners, especially those who do not have access to a personal computer, stream music streaming via smartphone apps such as Spotify and Tencent Music.

According to reports, Tencent Music seeks a valuation of about 25 billion dollars.

He asked to trade under the symbol TME.

Luxembourg-based Spotify, which is currently the market leader, is listed in the United States on April 3 and its shares are listed at $ 165.90. His shares closed in the United States on Tuesday at $ 178.88.

Tencent Holdings, China's largest social media company, also operates China's WeChat social network.