NEW YORK/HONG KONG: DouYu International Holdings Ltd, China’s largest live-streaming platform, on Tuesday sold US$775 million (US$1.00 = RM4.11) in stock at a US$3.73 billion valuation after pricing its U.S. initial public offering (IPO) at the bottom of an indicative range, people with direct knowledge of the matter said.
DouYu sold American depositary shares (ADS) at US$11.5 each, compared with a previously stated target of US$11.50 to US$14.00, the people said, requesting anonymity to speak freely about the deal.
DouYu, which is backed by Chinese social media and gaming giant Tencent Holdings Ltd, declined to comment. - REUTERS