Dec.11 — Tencent Music is set to begin trading in the U.S. Wednesday after pricing one share at $13 – toward the lower end of its midpoint range. China’s music-streaming service is pinning its fortunes on a rising tide of listeners but challenges abound. The share price of its U.S. counterpart, Spotify, is underwater after its IPO this year. An early Tencent Music investor has sued the company for fraud. And investors are more skittish than bullish on consistent market falls. Ramy Inocencio reports on Tencent Music, as well as Softbank’s possible move to sell its entire Nvidia stake for $3 billion as chip stocks falter.
See Video and Article here : https://finance.yahoo.com/video/tencent-music-ipo-beat-spotify-022246600.html
Anthony S Casey Singapore