Chinese online music services provider Tencent Music Entertainment, a subsidiary of investment holding company Tencent Holdings, has already decided to have its initial public offering (IPO) in the United States.
Goldman Sachs and Morgan Stanley are underwriting the IPO at a value of $30 billion.
The IPO is expected to give Tencent Music the funds to buy more content for its streaming services, the three biggest in China.
Tecent Music has posted a 40 percent annual growth in recent times.