Tencent’s online music spin-off Tencent Music Entertainment is reportedly going public in the US in October, with a valuation between US$29 billion to US$31 billion, according to Chinese media citing insiders. The report said investors including Fidelity Investments, D. E. Shaw and Soros Fund Management all valued Tencent Music at around US$32 billion, putting it on par with Spotify, with a market capitalization of US$34.27 billion. Tencent did not immediately respond to China Money Network’s email seeking for comments. In …
US Investors Reportedly Value Tencent Music At Around $30B appeared first on China Money Network.