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.

LATEST
92-Year Old Li Ka-Shing Receives First Dose of BioNTech Vaccine
China Becomes World’s Biggest Buyer of Chip Equipment in 2020, Says SEMI
Geely-Controlled Swedish Electric Carmaker Polestar Raises $550 Million in First External Funding
Xpeng Looks to Cut Reliance on Foreign Made Chips Amid Global Shortage
Trending in China: The Fake Writing Competition That Conned Beijing Parents for Years
ByteDance Powers Up Gaming Investment with C4games Acquisition
Didi Given Greenlight to Test Autonomous Vehicles in Beijing Pilot Zone
Xpeng Debuts New Car As China’s NEV Market Heats Up
Lenovo Still Top Dog in Global PC Market in First Quarter of 2021
Tesla Says Any Data It Collects in China Is Stored in the Nation
Medtech Startup StoneWise Raises $100 Million to Promote Use of AI in Drug Development
Plus Accelerates Uptake of its Autonomous Truck Tech with Italian IVECO Deal
Trending in China: Farmer Given Suspended Jail Time For Felling Own Trees – Social Media Chimes In
‘Tickets Please!’ Baidu Allowed to Charge for Robobus Service in Chongqing
Didi Reportedly Looking to List in U.S. as Soon as July
China’s NEV Sales Balloon in First Quarter on Strong Demand from Individual Consumers
Honor of Kings Beats PUBG Mobile as World’s Highest-Earning Mobile Game in March
Didi to Expand New Logistics Service From 8 to 19 Cities in China
China’s Li Auto Raises $750 Million Through Bond Sale to Fund Electric Car Development
Plant-Based Food Firm Beyond Meat to Open Plant Based in China
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