Ten­cent Mu­sic de­lays IPO

Financial Mail - - MARKET WATCH -

Ten­cent Mu­sic En­ter­tain­ment has de­layed its planned US ini­tial pub­lic of­fer­ing (IPO) un­til at least Novem­ber as the owner of China’s most pop­u­lar mu­sic app prefers to wait for global stock mar­kets to sta­bilise, three sources said.

The mu­sic arm of tech gi­ant Ten­cent Hold­ings is ex­pected to raise at least $2bn and was orig­i­nally plan­ning to launch its of­fer­ing as soon as next week.

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