Currently, the Hong Kong Stock Exchange has confirmedTencentSuggested spin-offs are available.
At present, the proposed spin-off is subject to the approval of the relevant authorities for the listing and trading of Tencent Music Securities and the final decision of the Tencent Board and Tencent Music Board.
The actual Tencent music spin-off listing has long been rumored. Last year, it was reported that Tencent Music would go to Hong Kong or go to the US to go public, and then rumors were more inclined to go public in the United States.
Earlier this month, it was reported that Tencent Music was scheduled to submit an IPO application document to the US Securities and Exchange Commission on July 6 to officially launch the US listing process. At that time, Tencent Music Entertainment Group told Sina Technology that it would not comment on the rumors.
At the end of May, the Financial Times quoted people familiar with the matter as saying that Tencent Music Entertainment Group has hired Goldman Sachs, Morgan Stanley and Bank of America Merrill Lynch to lead the IPO and expects its valuation to exceed $30 billion.