SHENZHEN, China, Sept. 14,
2022 /PRNewswire/ -- Tencent Music Entertainment
Group ("TME," or the "Company") (NYSE: TME), the leading online
music and audio entertainment platform in China, announced on September 15, 2022
(Beijing/Hong Kong Time)
the proposed secondary listing of its Class A ordinary shares, par
value US$0.000083 per share (the
"Shares") by way of introduction on the Main Board of The Stock
Exchange of Hong Kong Limited (the "SEHK"). The Company's American
Depositary Shares (the "ADSs"), each representing two Shares, will
continue to be primarily listed and traded on the New York Stock
Exchange (the "NYSE").
The Company received a letter of in-principle approval of its
listing application from the SEHK on September 14, 2022 (Beijing/Hong Kong Time) for the secondary
listing of the Shares on the Main Board of the SEHK. The listing
document relating to the proposed secondary listing of the Shares
by way of introduction on the Main Board of the SEHK (the "Listing
Document") was published on the website of the SEHK on September 15, 2022 (Beijing/Hong Kong Time). Subject to final
listing approval from the SEHK, the Shares are expected to commence
trading on the Main Board of the SEHK on September 21, 2022 (Beijing/Hong Kong Time) under the stock code
"1698". The Shares will be traded in board lots of 100 Shares. Upon
listing on the Main Board of the SEHK, the Shares listed on the
Main Board of the SEHK will be fully fungible with the ADSs listed
on the NYSE.
With respect to the proposed secondary listing on the Main Board
of the SEHK, J.P. Morgan Securities (Far East) Limited and Goldman
Sachs (Asia) L.L.C. are acting as
joint sponsors. In addition, J.P. Morgan Broking (Hong Kong) Limited and/or its affliates will
be acting as the designated securities dealer and Goldman Sachs
(Asia) Securities Limited and/or
its affiliates will be acting as the alternate designated
securities dealer to carry out bridging and other trading
arrangements in good faith and on arm's length terms, with a view
to facilitating liquidity to meet demand for the Company's Shares
in Hong Kong and to maintain an
orderly market for a period of 30 calendar days, commencing from
9:00 a.m. on September 21, 2022 (Beijing/Hong Kong Time).
This press release shall not constitute an offer to sell or the
solicitation of an offer or an invitation to buy any securities of
the Company, nor shall there be any offer or sale of the securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
The Company has arranged with its principal share registrar in
the Cayman Islands and the Hong
Kong Share Registrar for the transfer of a portion of its Shares
(which includes Shares underlying its ADSs) from its Cayman Islands share register to its
Hong Kong share register at no
additional cost to Shareholders prior to the secondary listing of
the Shares by way of introduction on the Main Board of the SEHK.
Please refer to the section headed "Market Arrangements to
Facilitate Dealings in Hong Kong"
of the Listing Document for further details.
About Tencent Music
Tencent Music Entertainment Group
(NYSE: TME) is the leading online music and audio entertainment
platform in China, operating the
country's highly popular and innovative music apps: QQ Music, Kugou
Music, Kuwo Music and WeSing. TME's mission is to use technology to
elevate the role of music in people's lives by enabling them to
create, enjoy, share and interact with music. TME's platform
comprises online music, online audio, online karaoke, music-centric
live streaming and online concert services, enabling music fans to
discover, listen, sing, watch, perform and socialize around music.
For more information, please visit ir.tencentmusic.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the SEC. All information provided in this press
release is as of the date of this press release, and the Company
does not undertake any duty to update such information, except as
required under applicable law.
Investor Relations Contact
Tencent Music Entertainment
+86 (755) 8601-3388 ext. 818415
SOURCE Tencent Music Entertainment