Chinese game live-streaming site seeks US IPO

BEIJING - Chinese game live-streaming site Huya is seeking to raise as much as $200 million in an initial public offering on the New York Stock Exchange, according to the company's filing.

The company's controlling company is Nasdaq-listed YY, a leading domestic live streaming social media platform. Huya sealed deals for strategic financing from Tencent in early March.

Huya reported net revenue of about $336 million in 2017, driven mainly by live-streaming services and advertising.

The company said that by the end of last year it had average monthly active users of over 86 million, with each mobile user spending about 99 minutes on average on the platform each day.

China has become the world's largest games market in terms of revenues and gamers, according to consultancy Frost & Sullivan Research. The country is also home to the world's largest active user base of live streaming, according to Huya's filing.