Tencent-backed Chinese entertainment group Douyu is planning a US initial public offering to raise $600m-$700m by cashing in on the “esports” phenomenon gripping China, according to bankers.
Five-year-old Douyu, which streams videos and online games, had been considering a Hong Kong listing, but is now weighing a US debut, said one person familiar with the deal.
Analysts at CBInsights value it at $1.51bn, while business information provider Crunchbase said the company’s total funding valued it at $1.1bn.
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