Last Friday, Huya, the game streaming arm of YY, raised $180 million with its initial public offering on the New York Stock Exchange. The company offered 15 million American depositary shares at $12 per share, the high end of its estimated ADS price. The prices of the company’s shares have since jumped and the closing price of the company’s stocks was $18.38 yesterday.

The company is backed by YY and Tencent. In a statement issued by Huya after the offering, the company announced that its parent company would hold 54.9% voting power in the company, while Tencent would control 39.5%.

In the company’s IPO prospectus report, Huya stated that it is currently the largest game live streaming platform in China, having reached 86.7 million average monthly active users (MAU) in the fourth quarter of 2017. The company also reported revenues of $335.8 million (RMB 2,184.8 million) in 2017, a whopping 174% increase from the year before.

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Pang-Chieh Ho

Pang-Chieh Ho is currently an editor at Digg and a columnist for SupChina. She previously worked at China Film Insider as a newsletter editor and her work has appeared on Screen Comment and VCinema.