Tencent Music Entertainment Group announced a stock repurchase program of up to $1 billion that it intends to fund from its current cash balance. The repurchases of its Class A ordinary shares in the form of American Depositary Shares (ADS) commenced on March 29 and will be completed over the next twelve months. Shares of the China-based online music entertainment platform rose more than 7% in the pre-market session. Tencent’s (TME) Chairman of the Board Mr.
https://www.tipranks.com/news/tencent-to-buy-back-1b-in-stock-shares-gain-pre-market
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