Chinese streaming platform debuts on nasdaq

Added On July 19, 2019

The company, trading under the ticker symbol of "DOYU," priced its initial public offering of 67,387,110 "American depositary shares" at 11.50 U.S. dollars per share for a total offering size of approximately 775 million dollars.

The company said every 10 "American depositary shares" represents one ordinary share.
The shares started trading at 11.02 U.S. dollars on Wednesday and closed at 11.50 dollars apiece.
Founded in 2014, the Wuhan-based company operates personal computer and mobile app platforms, that offer interactive gaming and live streaming entertainment.
DouYu's founder and CEO Chen Shaojie said that the Nasdaq listing marks a milestone for the company, which will help promote its brand globally and attract more talent to the company.
CHEN SHAOJIE, DouYu's Founder and CEO
"DouYu is a game-centric live streaming platform, mainly on eSports. We profit from reward money given by our users as well as advertisements. China has a tremendous eSports market with a massive number of users who have greater capability to pay. We are confident about the company’s future development."
According to consulting firm iResearch, DouYu ranks first in China in terms of average total monthly active users and average total daily time spent by active users.
ROBERT MCCOOEY, Chairman of Nasdaq Asia-Pacific
"Those investors understand that there are great business models being built in China and you know and they want to invest in. China has a fantastic total addressable market for so many businesses and certainly in the gaming business with DouYu you have such a leadership position. It's a perfect match between the U.S. investors and Chinese company like DouYu coming into Nasdaq."