Pony Ma Huateng, chairman and CEO of Tencent Music. Photo: Visual China Group/Getty Images

China's largest music streaming company, Tencent Music Entertainment Group, is preparing an IPO that could be one of the biggest ever recorded for a tech company, reports the Wall Street Journal.

Why it matters: The group's listing shows that public offerings are continuing to build steam in the tech world and it could be one of the largest deals of 2018, potentially raising as much as $25 billion.

  • "The initial public offering, potentially coming in the second half of 2018, would be one of the largest deals of the year and is expected to raise billions."
  • "Tencent Music is expected to list in the U.S., but it is unlikely to make a final venue decision for several months."
  • "Tencent Music’s offering could value the business in excess of $25 billion ... Should investors give it that valuation in its IPO pricing, it would be the fourth-biggest U.S.-listed tech IPO on record."

Go deeper

Trump says he wants 9 justices in case Supreme Court must decide 2020 election

President Trump told reporters at the White House on Wednesday that part of his urgency to quickly push through a replacement for the late Justice Ruth Bader Ginsburg is that he believes the Supreme Court may have to decide the result of the 2020 election.

Why it matters: Trump claimed at the Republican National Convention that the only way he will lose the election is if it is "rigged," and he has declined to say whether he would accept the results of November's election if he loses to Joe Biden.

"Not enough": Protesters react to no murder charges in Breonna Taylor case

A grand jury has indicted Brett Hankison, one of the Louisville police officers who entered Breonna Taylor's home in March, on three counts of wanton endangerment for firing shots blindly into neighboring apartments.

The state of play: Angering protesters, the grand jury did not indict any of the three officers involved in the botched drug raid on homicide or manslaughter charges related to the death of Taylor.

Judge orders Eric Trump to testify in New York probe before election

Photo: Ira L. Black/Corbis via Getty Images

A judge on Wednesday ordered Eric Trump to comply with a subpoena to testify before the presidential election in a New York probe into the Trump family business.

The state of play: New York Attorney General Letitia James (D) last month said her office had filed a lawsuit to compel the Trump Organization to comply with subpoenas related to an investigation into whether President Trump and his company improperly inflated the value of its assets on financial statements.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!