Tencent Music may delay plans for $5b Hong Kong listing

Details:

• Tencent’s music-streaming arm could postpone selling its shares to the public until next year when market volatility and regulatory pressures may have eased, said the sources.
• The audio platform’s US-listed shares have plunged about 70% since reaching an all-time peak in March.

Dive deeper:

• China’s antitrust regulator is reportedly going to order the music-streaming unit to give up exclusive rights to music labels that it has used to compete with smaller rivals.
• Meanwhile, rival Cloud Village, a unit of gaming company NetEase, has recently won approval from the Hong Kong stock exchange for a listing.