Tencent-backed Douyu has successfully listed on Nasdaq after completing a $775m initial public offering that came after economic tensions forced a delay earlier this year.
Douyu, a China-based video game livestreaming platform operator backed by internet group Tencent, priced its shares at the low end of its range at $11.50 on Tuesday to raise $775m in its initial public offering.
The company issued 44.9 million new American Depositary Shares (ADSs), in addition to 22.5 million of existing stock sold by existing shareholders, meaning $517m was raised by Douyu itself and the remainder went to exiting shareholders.
Douyu had hoped to price ADSs at up to…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
