ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Tencent-backed streamer Douyu stumbles in Wall Street debut

Biggest Chinese IPO in the US this year off to a slow start

Tencent-backed Douyu stumbled on its first day of trading on the Nasdaq before climbing back up to its initial public offering price. (Photo courtesy of Nasdaq)

NEW YORK -- Douyu, the gaming-focused streaming platform backed by internet giant Tencent Holdings, had a lackluster debut on the Nasdaq Wednesday after a $775 million IPO -- the largest by a Chinese company in the U.S. this year.

The Wuhan-based company closed its first day of trading on Wall Street at $11.50 per American depositary share, matching its initial public offering price. Shares opened at 4% lower Wednesday morning after being priced at the low end of the expected range. The IPO values Douyu at roughly $3.7 billion.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more