Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
China-Built Tesla Model 3 to Go On Sale Friday
Ant May Join Race for Singapore Virtual Bank Licenses
Didi Chuxing to Test Robo-Taxi Service in Shanghai, CNBC Reports
LATEST
Canaan Shares Up and Down on First Trading Day After U.S. IPO
Chinese Official Talks Up 5G Subscriber Base With Veiled Criticism of U.S. Policy on Huawei
China Revises 2018 GDP Upward, Citing Changes in Basic Data
U.S. Allows Some Firms to Restart Sales to Huawei, Including Microsoft
New Energy Vehicles Struggle to Find Mass Audience
Alibaba Shares Attract High Gray-Market Bids as Hong Kong First Trading Day Looms
Chinese Officials Reveal New Details of Country’s 6G Research
Meituan Posts Second Consecutive Quarterly Profit
Making Reference to ‘State Secrets,’ China Moves to Restrict Vulnerability Disclosures
Huawei Lawyers Present New Legal Argument to Stop Meng Wanzhou Extradition To U.S.
Third Quarter Earnings Show Parcel Delivery Price War Rages On
China Won’t Arbitrarily Adjust Historical GDP Data, Statistics Official Says
NetEase’s Youdao Posts Both Soaring Revenues and Widening Losses in Q3 Earnings Report
Beijing Police Work With Private Company Sinogene to Admit Six Cloned Dogs
Chinese Bitcoin-Mining Firm Raises $90 Million in U.S. Listing
Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO
Pinduoduo Shares Plunge After Report of Wider 3Q Loss
Billionaire Wang Jianlin’s Son Released From Spending Ban
China-Built Tesla Model 3 to Go On Sale Friday
U.S.-Blacklisted Chinese AI Firm to Seek Hong Kong IPO Approval: Report
Tencent-Backed Game Streaming Platform Aims to Raise $944 Million in U.S. IPO

By Tianyu M. Fang / Jul 09, 2019 04:04 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese live-streaming platform Douyu International Holdings Ltd. aims to raise up to $944 million in a Nasdaq IPO, the company announced Monday.

Douyu will offer 44.9 million American depositary shares, with current shareholders selling an additional 22.4 million shares, a U.S. Security and Exchange Commission (SEC) filing shows. The company estimates the IPO price at between $11.50 to $14.00 per share.

The Twitch-like live-streaming platform, which focuses on esports, previously filed with the SEC to raise up to $500 million on the New York Stock Exchange in April, before the plan was called off due to market jitters in May.

Douyu hit 1.5 billion yuan ($221.9 million) in quarterly net revenue for the three months ended March 31, a significant increase from 666 million yuan for the same period in 2018.

Douyu’s IPO follows that of its rival — Huya Inc., which is also backed by Tencent — on the New York Stock Exchange in 2018. Douyu had over 6 million paying users in the first quarter of 2019, compared to Huya’s 5.4 million.

Related: Livestreaming Platform for Games Becomes Latest Mega-Fundraiser

Share this article
Open WeChat and scan the QR code