A Tencent IPO may be happening after all as the company has revitalized its plans to go viral.
Here are nine things you should know about the potential initial public offering of the China-based instant messaging and music streaming service app maker:
- The company set the terms for its plans to go public as the Tencent IPO is slated to bring in up to $1.23 billion.
- The app developer put a halt on its plans to go public back in October due to market conditions.
- However, it appears as if the move is back on track as the company issued a filing with the Securities and Exchange Commission.
- The Tencent IPO will offer 82 million American Depositary Shares (ADSs), which tallies up to 164 million Class A ordinary shares, that will go to the public.
- The company said that it will offer 41.03 million ADS to the public, while another 40.97 million ADS will be sold to shareholders.
- The Tencent IPO is slated to price the company’s stock at between $13 and $15 per share.
- The app maker’s ADSs have been approved to be listed on the New York Stock Exchange under the stock ticker symbol “TME.”
- Following the Tencent IPO, the company will hold 84.28 million ADS outstanding, as well as 3.27 billion ordinary shares outstanding.
- Controlling shareholder Tencent Holdings Ltd. has reportedly agreed to buy Class A ordinary shares valued at $32 million at the company’s IPO price.
