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July 19, 2019

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DouYu rings Nasdaq’s bell

Chinese livestreaming video-game platform DouYu International Holdings Limited rang the Nasdaq Stock Market opening bell on Wednesday (US time) in celebration of its initial public offering.

The company, trading under the ticker “DOYU,” priced its IPO of 67,387,110 American depositary shares at US$11.50 each for a total offering size of approximately US$775 million.

DouYu started trading at US$11.02 on Wednesday and closed at US$11.50.

Founded in 2014, the Wuhan-based company operates its platform both on PC and mobile apps, through which users can enjoy immersive and interactive games and entertainment livestreaming.

DouYu’s founder and CEO Chen Shaojie said the listing on the Nasdaq marks a milestone for the company, which could help promote its branding globally and attract more talents.

Chen said that the rapid expansion of China’s game-livestreaming market makes him confident about the company’s future development.

Among China’s game-centric livestreaming platforms, DouYu ranked first in terms of average total monthly active users and average total daily time spent by active users during the first quarter of 2019, according to consulting firm iResearch.

“China has a fantastic total addressable market for so many businesses and certainly in the gaming business,” Robert McCooey, chairman of Nasdaq Asia-Pacific said, adding that DouYu’s debut on the Nasdaq “is a perfect match between US investors and the Chinese company.”

China is the world’s largest game-centric livestreaming market, with approximately 4.9 times the MAUs of the US market in 2018.


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