There are plans to interview banks that could underwrite Tencent Music Entertainment Group ’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 bank has not been chosen , if an offer is forthcoming , the company 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 Sony Music , which is more than 50 % owned by Tencent Holdings , could be valued over $ 5000 ; double the $ 12.5bn valuation estimated when Spotify took a 9 % stake in the company as part of a share swap toward the end of last year .
There are plans to interview banks that could underwrite Tencent Music Entertainment Group ’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 bank has not been chosen , if an offer is forthcoming , the company is expected to list in the US . Some suggest Sony Music , which is more than 50 % owned by Tencent Holdings , could be valued over $ 5000 ; double the $ 12.5bn valuation estimated when Spotify took a 9 % stake in the company as part of a share swap toward the end of last year .