Tencent Music's $1.1b IPO falls short

China’s dominant music distributor had hoped to overtake Spotify with its $1.1 billion New York IPO. But for now, Tencent Music still lags its main international rival.

Carol Huang

December 12, 2018

Tencent Music Entertainment Group’s ambition to become the world’s most valuable music company has faltered – for the time being at least. The Chinese music entertainment platform was unable to match the value of Spotify through its $1.1 billion US initial public offering.

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