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Media & Entertainment

Tencent Music's plan stalls for $5bn Hong Kong listing in 2021

Share plunge, regulatory crackdown and market unrest drive delay

Tencent Music has lost almost 70% of its market value since the stock peaked in New York in March.   © Reuters
NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | China

HONG KONG -- Tencent Music Entertainment Group's plans to sell up to $5 billion in shares while acquiring a listing in Hong Kong by the end of the year are fading amid market volatility and China's crackdown on online platforms.

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