Streaming Platform Douyu Updates US IPO Terms
Douyu TV, the largest game-centric live streaming platform in China, has updated the terms of its IPO in its prospectus. The Wuhan-based firm said it will offer a total 67.4 million shares, of which 44.9 million American depository shares and 22.5 million shares offered for sale by current stakeholders. The ADS will list on the Nasdaq exchange under the ticker symbol “DOYU” and are expected to price between $11.50 and $14.00 each.
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The company said 32,462,368 ordinary shares will be outstanding after the IPO, which means the company’s expected valuation should range between $3.73 billion and $4.54 billion. Douyu’s IPO roadshow was originally set to begin in May, but was delayed due to an increase in hostile trade rhetoric from the Trump administration including threats to impose more tariffs.
The key underwriters on the deal are Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp. and CMB International Capital Ltd. Douyu’s IPO comes approximately one year after another Chinese game streaming company, Huya Inc, listed on the NYSE.