Tencent Holdings Ltd.-backed live-streaming games platform Wuhan Douyu Network Technology Co. Ltd. is gearing up for a US$700 million IPO in Hong Kong in July, the South China Morning Post reported June 7, citing people familiar with the matter.
The Wuhan, China-based company, which also broadcasts video content, is aiming to list in the third quarter, according to the report.
Douyu was valued at more than US$2.4 billion after its latest round of fundraising in March, when Tencent invested US$630 million.
