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MarketScreener Homepage  >  Equities  >  Nyse  >  HUYA Inc.    HUYA

HUYA INC.

(HUYA)
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Live-Streaming Companies Huya, DouYu to Merge

10/12/2020 | 08:22am EST

By Dave Sebastian

Huya Inc. has agreed to merge with DouYu International Holdings Ltd. through a stock-for-stock transaction, the live-streaming companies said.

DouYu shareholders will get 7.3 Huya shares for each DouYu share, the companies said Monday. They said shareholders of each company will hold about 50% of the combined company if the combination is approved.

DouYu would become a privately held and wholly owned subsidiary of Huya if the combination is completed, expected in the first half of 2021, the companies said.

The companies said Huya Chief Executive Rongjie Dong and DouYu Chief Executive Shaojie Chen would become co-CEOs and board members of the combined company.

DouYu and Nectarine Investment Ltd., a wholly owned subsidiary of Tencent Holdings Ltd., have also entered into a reassignment agreement, through which Tencent will assign its interests under the Penguin e-Sports brand to DouYu for a $500 million consideration. Tencent's voting power in the combined company will be 67.5%, the companies said.

Both companies' boards have approved the combination, the companies said, and Huya shareholder JOYY Inc. has also given its stamp on the agreement.

DouYu said its board has approved a cash dividend of $60 million to be paid on or around the transaction's closing date to DouYu shareholders.

In premarket trading, American depositary shares of DouYu were up nearly 14%, and Huya up 7.4%.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

10-12-20 0821ET

Stocks mentioned in the article
ChangeLast1st jan.
DOUYU INTERNATIONAL HOLDINGS LIMITED 0.07% 14 Delayed Quote.65.29%
HUYA INC. -0.19% 21.57 Delayed Quote.20.17%
JOYY INC. 0.26% 88.73 Delayed Quote.68.08%
TENCENT HOLDINGS LIMITED -0.34% 584 End-of-day quote.55.48%
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More news
Financials
Sales 2020 10 986 M 1 670 M 1 670 M
Net income 2020 786 M 120 M 120 M
Net cash 2020 6 747 M 1 026 M 1 026 M
P/E ratio 2020 41,9x
Yield 2020 -
Capitalization 33 454 M 5 075 M 5 087 M
EV / Sales 2020 2,43x
EV / Sales 2021 1,75x
Nbr of Employees 1 864
Free-Float 28,9%
Chart HUYA INC.
Duration : Period :
HUYA Inc. Technical Analysis Chart | HUYA | US44852D1081 | MarketScreener
Technical analysis trends HUYA INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 175,45 CNY
Last Close Price 142,18 CNY
Spread / Highest target 39,6%
Spread / Average Target 23,4%
Spread / Lowest Target 2,58%
EPS Revisions
Managers
NameTitle
Rong jie Dong Chief Executive Officer & Director
Ling Dong Huang Chairman
Xiao Zheng Liu Chief Financial Officer
Li Gao Lai Chief Technology Officer
Xue Ling Li Director
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