Freshfields advises on listing by way of introduction of Tencent Music Entertainment Group on HKSE
Freshfields Bruckhaus Deringer (‘Freshfields’) has provided Hong Kong and U.S. law advice to J.P. Morgan Securities (Far East) Limited and Goldman Sachs (Asia) L.L.C., joint sponsors of the listing by way of introduction of Tencent Music Entertainment Group (‘TME’) on the Hong Kong Stock Exchange (‘HKSE’). Trading in the shares commenced on 21 September 2022.
Through its four major brands QQ Music, Kugou Music, Kuwo Music and WeSing, TME provides online music and social entertainment services to address the diverse music entertainment needs of a massive audience in China. According to industry research, TME is the largest online music entertainment platform in China in terms of monthly active users (‘MAUs’), with 604 million online music mobile MAUs and 162 million social entertainment mobile MAUs in the first quarter of 2022.
The Freshfields team advising on the transaction was led by partner and China chairman Teresa Ko and partners Howie Farn and David Yi. They were supported by associates Candice Ma, Xinyu Wang, Zedong Liu, Zhuolin Li and Frank Fan. Financial services regulatory advice was provided by partner Matthew O’Callaghan and senior associate Alexis Hopwood. Disputes advice was provided by partner John Choong and counsel Yong Wei Chan. The team was also assisted in the U.S. by partners Michael Levitt, Doru Gavril and Robert Scarborough, counsel Jeremy Barr and senior associate David Mitchell.
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