Shares of Huya Inc., currently China’s largest livestreaming-game platform, soared on their New York debut on Friday, hinting at U.S. investors’ interest in the booming Chinese industry.
The IPO was highly anticipated as the first Chinese livestreaming-game platform to go public in the U.S.. Huya finished $16.06 on the NYSE, having reached heights of $17.07 from its offering price of $12 a share.
China’s livestreaming-game market is thought to have around 87 million monthly active users and was worth $1.2 billion at the close of last year, according to Caixin Global.