Chinese conglomerate Tencent (TCEHY), the world’s 5th largest technology company, has just filed for an IPO in the United States under their Tencent Music Entertainment Group subsidiary, which will trade as TME. Tencent Holdings is currently established as the largest social media company in the world as well as the largest gaming company in the world, but sudden changes to Chinese video game regulation have curbed the sale of some of its most popular titles in China and have put Tencent on its heels. The filing comes just a day after a press release from Tencent announcing plans to restructure, which, according to the release, would be the third major reorganization in the company’s 20-year history.Tencent representatives also stated that no significant layoffs were part of the restructuring plans. The creation of new business divisions will increase Tencent’s focus on business clients and industrial services, and should help it to compete head-to-head with it’s

Chinese app company Meituan Dianping raised $4.2 billion in its IPO, while pricing its shares near the top of its target range, as suggested by a CNN report citing a person familiar with the matter. Meituan ‘s app offers a range of services including lunch reservations, booking movie tickets and hailing car rides.The company’s IPO price of 69 Hong Kong dollars ($8.79) per share catapults its market value to $53 billion – which, although lower than its previously expected $60 billion, is still higher than the $30 billion valuation the startup received via private funding in October 2017. What makes Meituan ‘s IPO stand out is that it has managed to garner a relatively successful price/market value amidst less-than-remarkable IPOs (such as those of smartphone-maker Xiaomi and electric-car company Nio)  and sell-offs of many Chinese tech stocks in recent times.