Chinese streaming platform intends to earn $200 million on IPO in the USA
Chinese streaming service Huya announced its entry into the New York Stock Exchange. The company expects to earn $200 million on the IPO.
The guarantors of Huya’s initial placement on the securities market were such large financial organizations as Credit Suisse, Goldman Sachs and UBS.
Last year, Huya generated $348 million. By the end of last year, the service’s MAU was 83.4 million users, of which 36.2 million watched and broadcast from mobile devices.
In March of this year, Huya received $462 million of investments from the Chinese corporation Tencent in exchange for 34.6% of its shares. The controlling stake of the stream platform is still owned by YY, but Tencent has reserved the right to increase Huya’s ownership stake to 50.1% in the next 3 years.
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