$1.1 billion was raised in QQ music IPO
Posted On December 12, 2018
QQ music has reported completing its IPO by raising around $1.1 billion, which has only reached the lowest targeted range. Owning more than 800 million monthly active users, QQ music is the most popular music streaming app in China, which has long been a weapon wielded by Tencent in the entertainment industry. The outcome also reflects the degree of confidence in the market and with investors while the tension of the US-China trade war persists.