HONG KONG -- Three Chinese technology companies -- Tencent Music Entertainment Group, online retailer Vipshop Holdings and livestreaming platform Joyy -- are seeking secondary listings in Hong Kong, joining a parade of U.S.-listed mainland companies establishing fallback positions amid moves by Washington to push them out.
According to four people familiar with the plans, Tencent Music, a unit of Tencent Holdings, is in talks with banks for a Hong Kong offering that could raise up to $3.5 billion while Vipshop is targeting up to $2.5 billion and Joyy is looking to raise just under half that amount.
