Tencent Music: Analyzing the Latest IPO
So far, 2018 has been tough for Tencent (TCEHY) due to the US-China trade war and Chinese regulatory bodies cracking down on the games that Tencent launched. The company’s stock value has experienced a massive loss. Tencent initiated share buybacks in September after four years to enhance the EPS by lowering the number of outstanding shares. China’s leading gaming company retaliated by developing other product lines and diversifying its revenue earning base. Tencent announced the IPO of Tencent Music Entertainment on October 3. The IPO intends to generate $2 billion in the US listing. ...