INSUBCONTINENT EXCLUSIVE:
the largest listings by a Chinese company on the New York Stock Exchange this year.The initial public offering, originally mooted in
October, had been delayed by the turmoil sparked by the Chinese-US trade war.The listing of the music arm of China's technology company
Tencent Holdings is expected to value it at up to $25bn.Spotify, the Swedish music streaming service, was listed in the US in April with a
Its shares have had a rollercoaster ride since then and is now worth only $24.3bn.While Tencent appears to have scaled back the amount it
wants to raise, it has resumed its plans after markets rallied following talks between China and the US at the G20 summit over their trade
dispute.Presidents Donald Trump and Xi Jinping agreed to a temporary truce in their bitter dispute.Tencent also owns QQ Music and Kugou, and
is said to have over 700 million monthly active users.Tencent Music's decision to file for a share listing makes it the latest Chinese
company to seek investors in the US.Data from Refinitv shows that Chinese companies have raised $7.8bn from share offerings this year in the
US, with video streaming company iQiyi raising $2.4bn
