Tencent Music Joins 'Listing by Introduction' Bandwagon
March 22 2022 - 4:02AM
Dow Jones News
By Dave Sebastian
Tencent Music Entertainment Group is the latest New York-listed
Chinese company to pursue a listing in Hong Kong amid the threat of
a potential U.S. delisting.
The audio-entertainment platform is pursuing a listing by way of
introduction, which is a way of joining public markets in Hong Kong
without having to sell new stock or dilute existing investors.
Such a listing gives shareholders "greater liquidity and
protection amid an evolving regulatory environment," Executive
Chairman Cussion Pang said in a statement Monday.
The electric vehicle-maker, NIO Inc., just concluded its own
Hong Kong listing by introduction.
Companies are looking more actively at the listing option now,
bankers and lawyers say, amid choppy markets and the looming threat
of U.S. delistings.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
March 22, 2022 03:47 ET (07:47 GMT)
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