Tencent, China’s most valuable tech company, says it plans to spin off its streaming music service on a U.S. stock exchange.
Tencent Holdings Ltd., in a statement issued through the Hong Kong stock exchange, said share price and other details of the stock offering in Tencent Music have yet to be decided.
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Tencent’s other businesses include the popular WeChat social media platform and online games and video. Most of its activity focuses on its faster-growing home market in China but the company is gradually expanding abroad.
