Tencent Music (TME) Approves $400M Buyback Program
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Tencent Music Entertainment Group Announces $400 million Share Repurchase Program
December 17, 2019 7:00 AM UTCSHENZHEN, China, Dec. 17, 2019 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music", "TME", or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that its board of directors (the "Board") has authorized a share repurchase program under which the Company may repurchase up to $400 million of its Class A ordinary shares in the form of American depository shares ("ADSs") during a twelve-month period commencing on December 15, 2019 (collectively, the "Share Repurchase Program").
Mr. Cussion Pang, Chief Executive Officer of Tencent Music, said,... More
