Shulou(Shulou.com)11/24 Report--

Tencent Music (NYSE: TME) announced today in a filing with the Securities and Exchange Commission (SEC) that its Class A common shares will be listed on the main board of the Hong Kong Stock Exchange by way of introduction.

Meanwhile, Tencent Music's American Depositary Shares (ADS), each representing two common shares, will continue to be listed and traded on the New York Stock Exchange.

Tencent Music expects its Class A common shares to start trading on the Hong Kong Stock Exchange on September 21 under the ticker symbol "1698." After listing on the Main Board of the Stock Exchange, its shares will be fully replaceable with ADSs listed on the New York Stock Exchange.

At the same time, Tencent Music also announced that Liang Tang will resign from the company's board of directors and its remuneration committee with immediate effect. Jeanette Kim Yum Chan was appointed as an independent director and Edith Manling Ngan was appointed as a member of the Remuneration Committee and continues to serve as an independent director and a member of the Audit Committee.

Tencent Music also announced that it may issue and sell Class A common shares, including Class A common shares represented by ADS, in one or more offerings from time to time. Tencent Music ADS closed at $4.78 per share on the New York Stock Exchange on Sept. 14.

Shelf issue system, that is: a one-time approval, multiple issues of refinancing system. Shelf issuance system originated from the United States, is a special process regulation about the refinancing behavior of public companies. With the development of the market, it has been continuously improved and adopted by more and more countries and regions.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.