Posted July 18, 2019 1:32 pm by Comments

  •  DouYu closes first day of trading at its $11.50 offer price
  •  Listing is biggest in U.S. by Chinese firm since Tencent Music

Chinese video-game live-streaming platform DouYu International Holdings Ltd. ended flat in its trading debut after its $775 million U.S. initial public offering.

Shares of the company, backed by Tencent Holdings Ltd., closed their first day of trading Wednesday at $11.50, the same price as when they were sold in its IPO on Tuesday.

DouYu, which delayed its listing amid market jitters in May, sold 44.9 million American depository shares and its investors sold another 22.5 million. READ MORE

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