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DouYu Prices IPO At $11.50/ADS, Low End Of Proposed Range

DouYu International Holdings Ltd, (DOYU), China's largest live-streaming platform, said that it priced its initial public offering of about 67.39 million American Depositary Shares at $11.50 per ADS, which is the low end of proposed range of $11.50 - $14.00 per ADS.

The shares will begin trading on July 17, 2019 on the Nasdaq Global Select Market.

Of the 67.39 million ADSs being offered, 44.92 million ADSs are offered by the company, and 22.46 million ADSs are offered by the selling shareholders, assuming the underwriters do not exercise their over-allotment option.

The company and the selling shareholders granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 10.11 million additional ADSs.

The total gross proceeds of the offering are expected to be about US$775.0 million if the underwriters do not exercise their over-allotment option, and about US$891.2 million if the underwriters choose to exercise their over-allotment option in full.

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