DouYu International, the Tencent-backed game-streaming company, has filed to raise up to $500m in a listing on the New York Stock Exchange, down $200m from the top end of its previous fundraising range.
The company, which streams esports matches and other games-focused content in China, will offer American depositary shares, according to a filing made on Monday evening with the US Securities and Exchange Commission, which did not disclose the ownership stake represented by the share offering.
DouYu, which had earlier considered a Hong Kong listing, had previously planned to raise $600 to $700m with its initial public offering in New York. NYSE-listed shares in rival Chinese streaming platform Huya, also backed by Tencent, have risen 86.5 per cent form its $12 issue price since its IPO in May 2018.