Business
Oct 27, 2024, 12:00 AM
Oct 27, 2024, 12:00 AM
Forbes

GMM Music Targets IPO in Thailand with Tencent Backing

GMM Music Music business company of GMM Grammy Chinese language group of the Sinitic languages Tencent Chinese multinational investment holding conglomerate Thailand country in Southeast Asia
Highlights
  • GMM Music is planning an IPO on the Stock Exchange of Thailand, offering 228.8 million shares, representing 26% of the company.
  • The company's recent financial performance showed a revenue increase but a net loss, contrasting with a profit from the previous year.
  • The IPO aims to raise funds to repay debt and expand into new markets, particularly targeting China due to its growth potential.
Story

The planned IPO will provide crucial funds aimed at repaying existing debt and establishing a stronger foothold in new markets, with a specific focus on China. The music industry in Thailand is showing signs of transformation, influenced by digital platforms and mobile streaming services. Expanding into China presents a wealth of opportunities given its vast consumer base and increasing demand for music and entertainment.

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