Top Thai Music Firm Eyes IPO Following Tencent Investment

GMM Music Pcl is planning an initial public offering as early as this year, following a recent equity investment from China’s Tencent Holdings Ltd.

Thailand’s largest music company, a unit of GMM Grammy Pcl, would like an IPO “as soon as possible” this year or in 2025, Chief Marketing Officer Fahmai Damrongchaitham said in an interview.

GMM Music boosted its valuation to about $700 million after selling a 10% stake to China’s Tencent Holdings Ltd. last month. GMM Grammy, one of Thailand’s largest media groups, announced last year it plans to offer as much as a 30% ...