Game-Streaming Firm Makes Play for New York IPO
Livestreaming platform operator YY Inc. said it will spin off its Huya Inc. gaming unit for a separate New York listing, becoming the latest in a growing line of private Chinese technology companies aiming to tap U.S. financial markets.
Huya has made a confidential filing to the U.S. securities regulator for the separate listing, according to YY, which has been listed on the Nasdaq since late 2012. Over that time, YY’s shares have jumped about 11-fold, including a more than doubling over the last 12 months amid a broader wave of positive sentiment toward U.S.-listed Chinese stocks.
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