Tencent Music Entertainment taps banks for $5 billion Hong Kong listing

Tencent Music Entertainment Group has selected banks to arrange its planned second listing in Hong Kong, which could raise as much as $5 billion, according to people familiar with the matter. 

JPMorgan Chase & Co and Morgan Stanley are among arrangers chosen to lead the offering, said the people, who asked not to be identified as the information is private. A listing of the Chinese music-streaming service in Hong Kong could happen as soon as this year, the people said.

More banks could be added to the share sale and details including size and timeline could still change, the people said. Represe­ntatives