Tencent-backed live-streaming firm DouYu prices U.S. IPO at low end of range -sources

DouYu International Holdings

17/07/2019 02:54

NEW YORK/HONG KONG, July 16 (Reuters) - DouYu International
Holdings Ltd  DOYU.N , China's largest live-streaming platform,
on Tuesday sold $775 million in stock at a $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 $11.5 each,
compared with a previously stated target of $11.50 to $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  0700.HK , declined to comment.
    ($1 = 6.8769 Chinese yuan renminbi)

 (Reporting by Joshua Franklin in New York and Julie Zhu in Hong
Kong; Editing by Christopher Cushing)
 ((joshua.franklin@thomsonreuters.com; +1 646-223-6356; Reuters
Messaging: joshua.franklin.thomsonreuters.com@reuters.net))