Kev Ross

[caption id="attachment_201892" align="alignnone" width="600"] Tencent[/caption]Chinese e-commerce giant Tencent is spinning off Tencent Music, announced in early July, but its IPO may be halved--raising $2 billion instead of an indicated $4 billion according to a report by Reuters and its IFR publication. It is unclear if the smaller amount of fresh capital reflects a change in the company's valuation or a smaller number of new shares being sold.Tencent Music reports over 700 million users per month, of which roughly 15 million are paid subscribers. It operates apps allowing the streaming of music and live performances, as well as playing karaoke. Its current form emerged from a merger with streaming rival China Music in