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Tencent Music guiding $1.2B IPO to midpoint pricing

Dec. 11, 2018 1:04 PM ETTencent Music Entertainment Group (TME) StockTCEHY, TMEBy: Jason Aycock, SA News Editor
  • Books have closed in New York around the U.S. initial public offering for Tencent Music (NYSE:TME), and the company is expecting pricing around the midpoint of its range, it tells investors.
  • That would bring the company public at $14 per American depositary share, Bloomberg notes.
  • It expects to price the offering after the market close today.
  • The company, spinning out from Tencent (TCEHY +2.1%), is offering 82M ADS and hopes to raise as much as $1.2B.

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