There are plans to interview banks that could underwrite Tencent Holdings ’s initial public offering (IPO) over the next month or so, according to the Wall Street Journal , citing people familiar with the matter. Although a venue has not been chosen, if an IPO is forthcoming, the business is expected to list in the US . The digital-music business of Chinese internet giant Tencent Holdings Ltd. plans to interview potential underwriting banks over roughly the next month, according to people familiar with the matter. Some suggest Tencent Music , which is 9% owned by Tencent Music Entertainment Group , could be valued over $25bn; double the $ 12.5bn valuation estimated when Spotify took a more than 50% stake in the company as part of a share swap toward the next month .
There are plans to interview banks that could underwrite Tencent Holdings ’s initial public offering (IPO) over the next month or so, according to the Wall Street Journal , citing people familiar with the matter. Although a venue has not been chosen, if an IPO is forthcoming, the business is expected to list in the US . Some suggest Tencent Music , which is 9% owned by Tencent Music Entertainment Group , could be valued over $25bn; double the $ 12.5bn valuation estimated when Spotify took a more than 50% stake in the company as part of a share swap toward the next month .