Tencent Music Entertainment Group is set to raise $1.07 billion in a New York Stock Exchange (NYSE) listing.

腾讯音乐娱乐集团将通过在纽约证券交易所上市融资10.7亿美元。

The news comes after its IPO was priced at $13, at the low end of its $13-to-$15 per-share range. The company is the music arm of Tencent Holdings Ltd.

此前，该公司IPO发行价为13美元，位于每股13至15美元区间的低端。该公司是腾讯控股有限公司旗下的音乐子公司。

Tencent Music, the largest online music entertainment platform in China, is selling a total of 82 million American depositary shares (ADS) in the fundraising, according to a prospectus¹ published on December 3.

根据12月3日发布的一份说明书，中国最大的在线音乐娱乐平台腾讯音乐将在此次融资中发售总计8200万股美国存托股份。

Each ADS represents two Class A ordinary shares of the company.

该公司的每股美国存托股票相当于两股A股。

The funds raised will be used primarily to expand and enhance Tencent Music's content offerings, service development, selling and marketing², potential strategic investments, as well as other general purposes, said the company.

腾讯公司表示，筹集的资金将主要用于扩大和加强腾讯音乐的内容提供、服务开发、销售和营销、潜在的战略投资以及其他的一般用途。

During the first three quarters of this year, the company reported revenues of 13.59 billion yuan and net profits of 2.71 billion yuan, compared with 10.98 billion yuan and 1.32 billion yuan respectively last year.

今年前三季度，该公司实现收入135.9亿元，净利润27.1亿元，去年同期分别为109.8亿元和13.2亿元。

By the end of September, Tencent Music reported 24.9 million online music service users, 3.8 percent of those paying users.

截止今年九月底，腾讯音乐报告称，在线音乐用户为2490万人，其中3.8%为付费用户。