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# Tencent Music [TME] Ends First Trading Day Up 7.7%
- URL: https://www.hypebot.com/tencent-music-tme-ipo-closes-day-77-above-asking-price/
- Published: 2018-12-13T06:34:47.000Z
- Updated: 2018-12-13T06:34:47.000Z
- Description: After opening at $14.10, Tencent Music ended its first day of trading Wednesday up $1.00 at $14.00 or 7.69% above it's $13.00 target IPO asking price. At one point in. Continue reading [https://www.hypebot.com/hypebot/2018/12/tencent-music-tme-ipo-closes-day-77-above-asking-price.html]
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Startups & Funding, Streaming, China, Spotify, streaming, Tencent, Tencent Music, #wp, #wp-post, #Import 2026-01-21 10:00

[![Tencent music](https://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad3a6e739200d-200wi "Tencent music")](https://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad3a6e739200d-popup?ref=hypebot.com)After opening at $14.10, Tencent Music ended its first day of trading Wednesday up $1.00 at $14.00 or 7.69% above it's $13.00 target IPO asking price. At one point in the day, the stock was trading at $14.75\. 60,190,565 shares of TME traded hands on Wednesday.The full Tencent offering is 82 million shares, with half offered by the company and half from existing shareholders.Tencent was valued at $30 billion in the Fall of this year, but today's stock debut comes with a reduced $12.3 billion valuation. TME had been valued at $12 billion at the time of Spotify’s $31B listing in Q1 of this year.

**MORE: [Tencent Music IPO's At Reduced $12.3B Valuation](https://www.hypebot.com/tencent-music-us-ipo-today-at-reduced-123b-valuation-nasdaq-tme/)**