Tencent Music shares rise

Shares in Chinese streaming music giant Tencent Music Entertainment rose nearly 8 percent to $14 on Thursday, their first day of trade.

The company’s initial public offering of 82 million shares, which was priced at $13 a share, is expected to raise between $1.07 billion and $1.23 billion. The stock is listed on the New York Stock Exchange under the “TME” symbol.

A little more than half of the shares are being offered by the company, with the remainder being offered by shareholders. (AP)