Tencent Music Entertainment has announced that they are going to pause on their US initial public offering until at least November. Tencent Music Entertainment states that they want to wait for global stock markets to stabilize.
Tencent Music Entertainment are planning to raise at least US$2 billion and were supposed to go live as early as next week.
On Tuesday, October 10, Wall Street suffered its worst one-day drop in eight months, with the S&P plunging 3.29 percent. It fell a further 2.06 percent the following day.