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July 17, 2019, 7:28 p.m. EDT

Videogame-streamer DouYu raises $775 million in largest U.S. IPO by a Chinese company this year

Shares end their first trading day flat

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By Joanne Chiu and P.R. Venkat

A Chinese video-streaming service raised $775 million through a Nasdaq listing, capitalizing on the growing popularity of watching others play games on the internet.

The initial public offering by DouYu International Holdings Ltd. /zigman2/quotes/213233721/composite DOYU -1.59%   was the biggest this year by a Chinese company in the U.S., ahead of the $645 million IPO of cafe chain Luckin Coffee Inc. DouYu offers both desktop and mobile apps, and counts China’s Huya Inc. /zigman2/quotes/204095537/composite HUYA -2.56%   and Amazon.com Inc.’s /zigman2/quotes/210331248/composite AMZN -3.10%   Twitch among its peers.

DouYu, which is backed by Chinese internet heavyweight Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 -2.45%   , sold 67.39 million American depositary shares at $11.50 apiece, at the bottom of an indicative price range of $11.50 to $14 a share, it said in a statement. Its shares in the U.S. ended their first day of trading Wednesday flat at $11.50.

The IPO values the company at nearly $4 billion, including restricted shares issued to employees under a share-based compensation program.

An expanded version of this report appears on WSJ.com.

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/zigman2/quotes/213233721/composite
US : U.S.: Nasdaq
$ 8.07
-0.13 -1.59%
Volume: 2.37M
Aug. 23, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.67 billion
Rev. per Employee
N/A
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/zigman2/quotes/204095537/composite
US : U.S.: NYSE
$ 22.07
-0.58 -2.56%
Volume: 1.85M
Aug. 23, 2019 6:30p
P/E Ratio
98.09
Dividend Yield
N/A
Market Cap
$1.41 billion
Rev. per Employee
$861,571
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 1,749.62
-55.98 -3.10%
Volume: 5.28M
Aug. 23, 2019 4:00p
P/E Ratio
72.59
Dividend Yield
N/A
Market Cap
$865.46 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 326.00
-8.20 -2.45%
Volume: 22.76M
Aug. 26, 2019 4:08p
P/E Ratio
30.47
Dividend Yield
0.31%
Market Cap
HK$3176.71 billion
Rev. per Employee
HK$8.27M
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