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Tencent Track plans to public on US alternate

This tale at the beginning printed on October 2, 2018.

The corporate set a placeholder goal of $1 billion, which might worth the corporate between $25 and $30 billion, in line with its SEC submitting.

That quantity would mark the 3rd greatest Chinese language IPO to listing in america for the reason that starting of 2018, in line with knowledge supplier Dealogic. The Netflix-like video platform iQIYI raised $2.three billion and social buying groceries app Pinduoduo raised $1.6 billion.

Tencent Track dominates the tune streaming marketplace in China via its Spotify-like apps. The corporate published in its SEC submitting that its tune apps have greater than 800 million per thirty days lively customers. Spotify owns a nine% stake in Tencent Track.

The leisure subsidiary of Tencent reported a benefit of $263 million for the primary six months of 2018, with earnings of $1.three billion.

“We’re pioneering the best way other folks revel in on-line tune and music-centric social leisure services and products,” it stated in a submitting, including that it predicts the quantity of people who pay for tune in China will “greater than quadruple between 2017 and 2023.”

The emblem could be TME, however the corporate hasn’t but made up our minds which record alternate to business. It would make a selection both the Nasdaq or the New York Inventory Change.

CNN first reported that Tencent Track was once mulling an IPO in america in July.

Tencent Track’s IPO follows a flurry of giant listings via Chinese language tech firms in contemporary months, together with smartphone maker Xiaomi and on-line services and products supplier Meituan Dianping.

This tale at the beginning printed on October 2, 2018.

The corporate set a placeholder goal of $1 billion, which might worth the corporate between $25 and $30 billion, in line with its SEC submitting.

That quantity would mark the 3rd greatest Chinese language IPO to listing in america for the reason that starting of 2018, in line with knowledge supplier Dealogic. The Netflix-like video platform iQIYI raised $2.three billion and social buying groceries app Pinduoduo raised $1.6 billion.

Tencent Track dominates the tune streaming marketplace in China via its Spotify-like apps. The corporate published in its SEC submitting that its tune apps have greater than 800 million per thirty days lively customers. Spotify owns a nine% stake in Tencent Track.

The leisure subsidiary of Tencent reported a benefit of $263 million for the primary six months of 2018, with earnings of $1.three billion.

“We’re pioneering the best way other folks revel in on-line tune and music-centric social leisure services and products,” it stated in a submitting, including that it predicts the quantity of people who pay for tune in China will “greater than quadruple between 2017 and 2023.”

The emblem could be TME, however the corporate hasn’t but made up our minds which record alternate to business. It would make a selection both the Nasdaq or the New York Inventory Change.

CNN first reported that Tencent Track was once mulling an IPO in america in July.

Tencent Track’s IPO follows a flurry of giant listings via Chinese language tech firms in contemporary months, together with smartphone maker Xiaomi and on-line services and products supplier Meituan Dianping.

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