Chinese live streaming company YY is planning to spin off its gaming streaming unit Huya for an independent IPO. The company has submitted a draft registration statement on a confidential basis to the US Securities and Exchange Committee for a possible listing in the US market.

The parent firm made the news public in its annual report without giving further details about the IPO timetable and size. An earlier Bloomberg report put the unit’s valuation at around $200 million.

“In the fourth quarter of 2017, driven by both YY Live and Huya, our mobile live streaming monthly active users increased by 36.6% year over year to 76.5 million, and our total live streaming paying users increased by 25.0% year over year to 6.5 million,” stated David Xueling Li, Chairman and acting Chief Executive Officer of YY.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.