Tencent Music Listing "Tencent Department" listed in the New Year2018-12-12 20:25:41 109 ℃
On December 12th, Tencent Music, another star of Tencent, will be listed in the capital market and listed on the NYSE. It is reported that Tencent Music is expected to raise 10.66 billion US dollars to 1.23 billion US dollars, the issue price range is set at 13-15 US dollars, the current valuation is between 22 billion and 25 billion US dollars, which will be one of the largest IPO transactions in the United States this year.
2018 is the "Tencent Department" company listed in the new year, according to incomplete statistics, the number of "Tencent Department" companies listed in overseas markets in 2018, up to 16 companies, including Xiaomi Group, Meituan, Spotify And fight a lot of four giants with a market value of 100 billion yuan. Analysts said that although Tencent’s new stocks listed this year have fallen more and more in stock price performance, Tencent’s earnings through investment and mergers and acquisitions have increased year by year, which may become the next strategic tense of Tencent after the traffic peaks. Development path.
Tencent Music Login US Stocks
On December 12th, Tencent Music, the main controlling shareholder of Chinese Internet giant Tencent, will be listed on the NYSE Listing. According to a prospectus updated by Tencent Music, the stock issuance range is set at 13-15 US dollars, and it is planned to issue 82 million ADS shares, raising 10.66-1.23 billion US dollars. Tencent's music code is "TME", and the IPO lead underwriters are invested by Merrill Lynch, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase and Morgan Stanley. At present, Tencent owns 58.1% of Tencent Music and Spotify has 9.1%. After the listing, Tencent will continue to own 57.6% of Tencent Music and 61.5% of shareholders' voting rights through holding Tencent Music B shares. According to market participants, the valuation of Tencent's music market may be between US$22 billion and US$25 billion, and it will be one of the largest IPO transactions in the US this year.
According to the prospectus data, Tencent Music has four major sections: QQ Music, Cool Dog, Cool Me and National K Song. There are also four main sources of income: paid subscriptions, digital albums, virtual gifts, and value-added members. It is worth mentioning that paid subscriptions, Tencent Music is the first company to successfully explore the music payment model, which is an important reason for its rapid growth while maintaining profitability. According to the data, in the second quarter of 2018, the number of paying users of Tencent Music's online music service increased by 40.36% year-on-year to 23.3 million, and social entertainment paying users increased by 33.8% year-on-year to 9.5 million. In terms of financial data, Tencent Music's revenues were 4.36 billion yuan, 10.98 billion yuan and 13.59 billion yuan in the three years ended in September 2016, 2017 and September 2018, respectively; net profit was 85 million yuan, 1.32 billion yuan and 2.71 billion yuan, the profit rate was 1.9%, 12.0% and 19.9%.
Public information shows that Tencent Music will also be the last company to enter the capital market in the "Tencent Department" in 2018. According to incomplete statistics, there are about 16 new shares of Tencent Capital in the Hong Kong stock market and the US stock market this year. In 2018, it can be described as the "Tencent Department" listed in the New Year.
Tencent Department's listing in the New Year's Anniversary
Reviewing the development of Tencent in recent years, it can be seen that it is social, e-commerce, and travel. The company's performance report has repeatedly proved that Tencent's investment business is growing at a high speed. Since the beginning of this year, according to incomplete statistics of public information, there are nearly 40 Internet companies submitting listing applications in Hong Kong stocks and the US market. Among them, “Tencent Department” companies have 16 registered capital markets, including Xiaomi Group and Yingke in the Hong Kong stock market. (03700), US Mission Review, Huaxing Capital Holdings (01911), Tongcheng Yilong (00780), Chuangmengtiandi (01119); iQiyi, 哔哩哔哩, Tiger Tooth Live, Youxin, Spotify, Interest in the US stock market Headline, fight more, Weilai, Mushroom Street and Tencent Music. Including Xiaomi Group, Meituan, Spotify and Pinduo, the company's current market value has broken 100 billion yuan. As of the close of Beijing time on December 11, the elimination of the unlisted Tencent Music, the total market capitalization of the 15 companies participating in Tencent has exceeded RMB 1,050 billion.
It is worth noting that although currently, among the 15 stocks that have been listed this year, only the stocks of Yi, Yiqiyi and Weilai have risen relative to the issue price, and other stock prices have fallen. As of the close of Beijing time on December 11, the biggest decline in the fun headline fell nearly 73%, excellent letter fell more than 40%, more than 20% fell, and other 5 fell more than 10%, but Tencent's investment business in recent years High-speed growth, earlier this year, Tencent officially announced the number of companies invested in "more than 600", and more insiders said close to 750. In addition, Tencent’s third-quarter earnings report showed that Tencent’s investment in affiliated companies (listed and unlisted) was RMB 214.2 billion based on fair value. As of the third quarter of 2018, the number of Tencent investment companies exceeded Sequoia Capital, and investment income accounted for about 1/3 of Tencent's total profit. In 2016 and 2017, Tencent's investment income accounted for 7% and 22% of its profits, respectively. In the third quarter of September 2018, Tencent's other net income was RMB 8.8 billion (US$1.27 billion). It can be seen that the expansion of capital has become a very important model for Tencent's current profitability.
Market analysts said that on the one hand, the current traffic dividend period has passed, and Tencent’s current WeChat subscriber growth has been very slow, and companies must rush to cash out before the traffic is exhausted. On the other hand, after Tencent’s decline in core business games, the rapid realization of the investment business may also be a strategy of the company. In addition, Tencent’s return on foreign investment in recent years is far more than the harvest of IPO dividends. Tencent's large amount of foreign investment not only involved in the various tracks through the powerful traffic import participation, but also helped Tencent's payment business to land. Because Tencent participated in a new track, it means that WeChat payment has a new battlefield.
- In the previous：Tencent Music IPO issuance price of 13 US dollars, valuation of 21.3 billion US dollars
- The next article：My father is Tencent - Tencent Music
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