Slaughter and May, Hong Kong, advised Tencent Holdings Limited (“Tencent”, HKEx: 700) on the secondary listing of its subsidiary, Tencent Music Entertainment Group (“TME”), by way of introduction on the Main Board of the Hong Kong Stock Exchange. The joint sponsors to TME’s secondary listing are J.P. Morgan Securities (Far East) Limited and Goldman Sachs (Asia) L.L.C.
Tencent is one of the largest internet companies in the world, offering Internet value-added services through the operation of communications and social services, games, and other digital content platforms, as well as online advertising, FinTech, cloud and other business services for enterprise clients. It has been listed on the Main Board of the Hong Kong Stock Exchange since June 2004.
TME is the largest online music entertainment platform in China in terms of monthly active users and offers online music and social entertainment services through its four major product brands – QQ Music, Kugou Music, Kuwo Music and WeSing. TME has been listed on the New York Stock Exchange since December 2018. Dealings in TME’s shares on the Hong Kong Stock Exchange commenced on 21 September 2022.