Davis Polk & Wardwell is acting for Tencent Music Entertainment Group (TME), China’s largest online music-streaming service, on its $1 billion initial public offering in New York Stock, with Skadden, Arps, Slate, Meagher & Flom advising the underwriters.
Han Kun Law Offices and Grandall Law Firm advised the issuer and the underwriters on PRC law, respectively.
According to Reuters, the music arm of tech giant Tencent Holdings plans to list either on the Nasdaq or the New York Stock Exchange. The underwriters are Bank of America, Deutsche Bank, Goldman Sachs, JP Morgan and Morgan Stanley.
“We are pioneering the way people enjoy online music and music-centric social entertainment services,” Tencent Music notes in its prospectus, predicting that China’s per capita spending on recorded music is expected to more than quadruple between 2017 and 2023.
The Davis Polk team is being led by Hong Kong partners James Lin and Li He, while the Skadden team is being led by Hong Kong partners Julie Gao and Will Cai. Maples and Calder advised Tencent Music on Cayman Islands law.
美国达维律师事务所和世达国际律师事务所助力腾讯音乐公开申报美股IPO，融资规模最多高达10亿美元
美国达维律师事务所代表腾讯音乐娱乐集团正式向美国证券交易委员会递交了IPO招股书，申请在美国上市，融资规模最多高达10亿美元。腾讯音乐是中国在线音乐服务的领航者。世达国际律师事务所为其承销商提供法律服务。
汉坤律师事务所担任发行人的中国法顾问，国浩律师事务所担任承销商的中国法顾问。
据路透社报道，科技巨头腾讯控股的子公司腾讯音乐尚未决定在纳斯达克还是纽交所上市。其主承销商为美国银行、德意志银行、高盛集团、摩根大通、摩根士丹利。
腾讯音乐在招股书中写道，“我们正在开创人们享受在线音乐的方式和以音乐为中心的社交娱乐服务。”并预计2017年至2023年，中国录制音乐的人均支出预计将会翻两番以上。
美国达维律师事务所团队由香港合伙人林振宇、何鲤主导，世达国际律师事务所团队由香港合伙人高准、蔡华主导。迈普达律师事务所担任腾讯音乐的开曼群岛法律顾问。
To contact the editorial team, please email ALBEditor@thomsonreuters.com.
