Tencent Music soars on trading debut

Jamie McKane

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Tencent Music soars on trading debut

Tencent Music Entertainment Group climbed in its U.S. trading debut Wednesday after pricing its initial public offering at the bottom of a marketed range.

China’s largest music-streaming service, which is backed by Tencent Holdings Ltd., and current holders raised $1.1 billion by selling 82 million American depositary shares at $13 apiece Tuesday.

[Bloomberg]
 
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