Tencent to Spin Off Music Unit for U.S. Listing
Hong Kong-listed internet giant Tencent Holdings Ltd. is planning to spin off its online music business for a listing in the U.S.
The company hasn’t finalized the financial terms of the spinoff, including the offering size and price range, it said in a Sunday filing to the Hong Kong Stock Exchange. Its online music business is operated by Tencent Music Entertainment Group, a unit majority owned by Tencent Holdings.
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