HONG KONG: China's largest live-streaming platform DouYu International Holdings Limited, backed by social media and gaming giant Tencent Holdings Ltd, has filed for a U.S. initial public offering of up to US$500 million.
DouYu has exclusive streaming rights to 29 major tournaments in China, including League of Legends, PlayerUnknown's Battlegrounds, and DOTA2, according to the draft prospectus which was uploaded to the U.S. Securities and Exchange Commission website overnight on Monday. It set a placeholder sum of US$500 million for the IPO, which is used to calculate registration fees. The final IPO size could be different, though sources have previously told Reuters DouYu was looking to raise around US$500 million.DouYu's IPO could be one of the largest this year by a Chinese company in the United States, together with that of Starbucks challenger Luckin Coffee which also filed overnight.
DouYu's active users spent an average of 54 minutes per day on the platform in the fourth quarter of 2018.
Source: Gaming Daily Report (gamingdailyreport.net)
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