HONG KONG : China's Tencent Music Entertainment Group said its shares are due to start trading in Hong Kong next Wednesday after the company carries out a secondary listing by introduction.The company said New York will remain its primary listing venue and the company's U.S. and Hong Kong stock will be fu
HONG KONG : China's Tencent Music Entertainment Group said its shares are due to start trading in Hong Kong next Wednesday after the company carries out a secondary listing by introduction.
Tencent Music becomes the latest in a string of U.S-listed Chinese firms to opt for a second listing in Hong Kong to offset the threat of being delisted in New York due to a bilateral dispute between Washington and Beijing over access to auditing papers. While some U.S-listed Chinese companies have chosen to raise new capital with their Hong Kong debuts, others including Nio Inc have gone with a listing by introduction in which no new capital is raised or new shares are issued.
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