Tencent Music Entertainment Group, a leading Chinese provider of music streaming, live streaming and online karaoke, raised $1.07 billion by offering 82 million ADSs at $13, the low end of the range of $13 to $15. Existing shareholders sold 50% of the deal.
Tencent Music plans to list on the NYSE under the symbol TME. Morgan Stanley, Goldman Sachs (Asia), J.P. Morgan, Deutsche Bank and BofA Merrill Lynch acted as lead managers on the deal.
