Business

Douyu, the live streaming platform lands on the New York Stock Exchange

Douyu, last July 2, had already worked with the US Security and Exchange Commission (SEC)

China again on the New York Stock Exchange. The live streaming platform Douyu, the Chinese streaming platform, is, in fact, ready to be listed on the New York Stock Exchange. The date, as reported by the Chinese financial blog Zaozhidao, is that of July 17th. However, the announcement appeared to be in the air, especially after Douyu, last July 2, worked with the US Security and Exchange Commission (SEC) to include earnings results for the first quarter of 2019.

In the last year, the Chinese company, as can be seen from the data, recorded an increase of 123.4% on an annual basis and 18 million RMB in the net profit in the first quarter of 2019. Previously, moreover, IFRA had had reported that Douyu could have launched its IPO this week already.

The listing on the stock exchange is also a challenge to the American rival Huya

Douyu submitted his IPO application to the SEC in April 2019, after it was assumed he was preparing for an IPO in the United States for more than a year. The company had initially planned to start its roadshow on May 6, but decided to postpone it due to market turbulence.

Douyu’s strong performance in the first quarter of the year suggests the likelihood that the Chinese company will maintain its advantage over its US rival, Huya, with additional financing from its IPO.

Categories: Business, China, Company, Vedio

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