China's Tencent Music raises nearly $1.1 billion in U.S. IPO
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NEW YORK/HONG KONG (Reuters) - China-based music streaming company Tencent Music Entertainment Group's has raised close to $1.1 billion in its U.S. initial public offering (IPO) after pricing its American depositary shares (ADRs) at the low end of its indicated $13 to $15 per share range, a source said on Tuesday.The IPO shows how companies are defying a bout of stock market volatility with flotations. It tops off a bumper year for U.S. listings by Chinese companies, with $7.9 billion raised..