China-based live streaming game platform DouYu International has raised USD775 million in its initial public offering (IPO) on Nasdaq. The offering consisted of 67.4 million American Depositary Shares (ADS) sold for USD11.50 per ADS, including 22.5 million ADS sold by existing shareholders. DouYu will use the proceeds from the listing to grow its content offerings, strengthen its technology capabilities, and expand its marketing and brand promotion efforts, as well as for potential acquisitions and working capital needs. Existing investors in the company include global venture investor Sequoia Capital, which originally invested in the platform in 2016, and China-based technology group Tencent Holdings.