NEW YORK -- Douyu, an e-sports livestreaming platform backed by Tencent Holdings, on Monday raised the target for its Nasdaq debut after moving into the black for the first time last quarter.
The Wuhan, China-based startup filed to raise up to $629 million at $11.50 to $14 per American depositary share, while Douyu shareholders will be selling an additional $314 million worth of equity, according to Douyu's updated prospectus. The company previously sought a $500 million listing.
