(Yicai Global) Jan. 15 -- Chinese online streaming platform Douyu TV has confirmed plans to go public but did not disclose its destination market. Speculation suggests it could list in Hong Kong this year.
Chief Financial Officer Cheng Chao announced the plans to media at an annual ceremony on Jan. 12 in Shanghai, while adding that the firm, which specializes in live-streaming gaming videos, wants to invest CNY1 billion (USD155 billion) to nurture its star presenters, International Financial Review reported.
Internet Financial Review reported on Jan. 9 that Douyu would listed this year and aim to raise up to USD400 million. Hong Kong plans to let new-economy firms list with a dual-class share structure, so the firm is likely to list there, the report quoted an insider as saying.
Douyu closed its D-round last year with CMB International Capital Corp., a cross-border investment unit under China Merchants Bank Co., leading the series. Neither party disclosed the value of the funding but by this point, the company had already raised CNY2.2 billion (USD341 million) and was worth over CNY10 billion.
Founded in 2014, Douyu is one of China's largest live gaming streaming platforms in. It has over 200 million registered members and around 12 million daily active users. Almost 100,000 presenters broadcast on the platform every day.