Tencent's music streaming unit to list shares in US bourse

Tencent Holdings Ltd's plan to spin off its music-streaming unit and list shares in the United States marks the fresh revival of an industry that has often been plagued by piracy, industry experts said.

Hong Kong-listed Tencent said on Sunday that it was planning to sell shares in Tencent Music Entertainment on a US bourse, a move that will help cement the internet giant's dominance in online music at home.

The company is still working on the terms of the spinoff proposal, whose offering size, price range and entitlement of Tencent Music Entertainment's securities for the company's shareholders are yet to be finalized.