Inc..

Inc..

NASDAQ-listed Chinese online societal entertainment firm YY Inc. has announced its live gambling streaming system Huya recently filed a draft registration statement on a private basis for the U.S. Securities and Exchange Committee for a possible initial public offering in the U.S.

The news is as Tencent-backed Douyu, its competitor, is planning to raise roughly US$300 about US$400 million in Hong Kong, maybe in an IPO this year.

YY said the aim of Huya’s IPO from the U.S. would be always to “reach its own group of investors to fund its long term expansion. ” The firm didn’t disclose the size or the timetable of their IPO, but media documented Huya is trying to raise at least US$200 million.

Launched in 2014, Huya operates a streaming system whose material includes games, sports, music, food and entertainment. It has the third largest market penetration rate among various video streaming programs in China, following Douyu and YY, according to a survey released by Jiguang Data past December. It has over 6 million users that are daily.

It focuses on gambling streaming. This past year, it has purchased the license in South Korea to stream League of Legends Champions Korea, the contest for League of Legends sports. It has got licenses to stream Tencent’s dash of Kings Pro League. In the first three months ended in the conclusion of last December, Huya booked revenues of RMB741 million (US$117.4 million) and net income of RMB5 million (US$788,665), based on YY’s monetary outcomes.

Last May, Huya increased a US$75 million series A round headed by China Ping An Insurance Overseas (Holdings) Ltd., also engaged by Banyan Capital, Morningside Venture Capital, Engage Capital, David Li, chairman of YY, and Dong Rongjie, CEO at Huya.

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