Chinese Gaming Company Huya Soars in Market Debut

May 11, 2018

By Jacqueline Corba

The Chinese gaming firm Huya made its public market debut Friday, trading up as much as 41 percent from its IPO price of $12.

"We are very glad," said Huya's chief financial officer, Henry Sha, in an interview with Cheddar shortly after the company began trading on the New York Stock Exchange. "The e-sports environment in the U.S. market is quite good. A lot of gamers, a lot of e-sports are enthusiastic here, so we believe that the U.S. investor, the U.S. market can understand more about our company."

Huya's live-gaming platform has an average of 40 million active monthly users on mobile. In 2017, revenue was $344 million.

Sha said China is the primary market for Huya, but there is great potential among gamers in the United States.

Huya aims to raise $165 million in its public offering, Sha said, with the intention of using the capital to invest in e-sports and content creators.

Chinese entertainment giant Tencent is the second-largest stakeholder in Huya, and will maintain its 39.5 percent ownership. "We are very excited about future collaboration with Tencent," said Sha.

For the full interview, click here.

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