DouYu International Holdings, a Tencent-backed live e-sports streaming platform, announced terms for its IPO on Monday.
The Wuhan, China-based company plans to raise $859 million by offering 67.4 million ADSs (33% insider) at a price range of $11.50 to $14.00. At the midpoint of the proposed range, DouYu International Holdings would command a market value of $4.4 billion.
DouYu International Holdings was founded in 2014 and booked $651 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol DOYU. Morgan Stanley, J.P. Morgan, BofA Merrill Lynch and CMB International Capital are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2019.
