IPOs

Tencent eyes Warner Music stake

Tencent Holdings Ltd. is in discussions to buy a stake in Warner Music Group as part of the record company’s initial public offering, a key test for a new-issue market that has been hobbled by the coronavirus pandemic.

Warner Music kicks off $1.8B Nasdaq IPO

The recording label, home to artists including Cardi B, Ed Sheeran and Bruno Mars, expects its offering of 70 million shares to be priced between $23 and $26 per share.