Chinese game-streaming platform HUYA Inc. expects to raise $180 million in its U.S. IPO after pricing its shares at $12 apiece, the upper end of the indicated price range, Reuters reported, citing a source familiar with the matter.
The YY Inc.-controlled company will offer 15 million American depositary shares on the New York Stock Exchange under the symbol HUYA. The company earlier indicated a price range of $10 to $12 per share.
HUYA intends to use the proceeds to enhance products and services, invest in content and technologies, for research and development and for general corporate purposes.
Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) LLC, UBS Securities LLC and Needham & Co. LLC are the underwriters for the offering.
The company, launched in 2014, said it had more than 38.8 million mobile monthly active users in the fourth quarter of 2017. It reported revenue of $335.8 million in 2017, while net losses amounted to $12.4 million.