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Bloomberg
DouYu International Holdings, a Chinese video-game live-streaming platform, is delaying the launch of its US initial public offering following market jitters over President Donald Trump’s threat to boost tariffs on China, people with knowledge of the matter said.
The company, which initially planned to start its IPO roadshow on Monday US time, is considering postponing the launch by at least a week, the people said, asking not to be identified because the information is private.
DouYu, backed by Tencent Holdings Ltd, had been aiming to seek about $500 million, one of the people said. DouYu, which is planning a share sale after rival Huya Inc nearly doubled in value since its debut last year, initially targeted to start trading on May 16, according to the people.
The Wuhan-based company will continue to monitor the market to find an appropriate window to launch the deal and hasn’t set a new timeline yet, the people said.
The delay came as global markets tumbled after Trump tweeted that the US would increase tariffs on $200 billion of Chinese imports, ahead of a scheduled trade talk in Washington.
China’s Ministry of Foreign Affairs spokesman said Monday that officials were still preparing to travel to the US, without commenting on when the potential meeting would take place.