It has been reported that Tencent Music Entertainment will be performing a secondary listing in Hong Kong in the coming days.
China’s TME, home to three of the country’s leading music streaming services; QQ Music, Kugou and Kuwo.
The secondary listing plan was announced by TME Executive Chairman Cussion Pang alongside the firm’s Q4 2021 and FY 2021 results.
This will be a very big listing for the Hong Kong Stock Exchange.
“We are pursuing a secondary listing on the Main Board of the Hong Kong Stock Exchange through a listing by way of introduction (which is a direct listing without any offering of new shares), subject to regulatory approvals,” said Pang.
It will be interesting to see in the coming year if TME also decides to keep their NYSE listing or whether they decide to pull out of the US market.