Chinese esports organisation Versus Programming Network (VSPN) could go public.
Bloomberg reported that the company, also known as Xi'an Quantum Sports Management Co, might be considering an IPO to "raise several hundred million dollars."
However, a source has explained that the idea is in the early stages, with details such as size being subject to change.
VSPN, headquartered in Shanghai, was founded in 2016 and has offices in Saudi Arabia, Indonesia, South Korea and the US.
The company is known for mobile esports tournaments across a range of games, including Honor of Kings, Peacekeeper Elite – known as PUBG Mobile in the West – and Clash Royale.
In October 2020, the esports specialist raised $100 million in a Series B funding round led by Tencent. Further participants included Kuaishou and Tiantu Capital.
However, it is not the first time Tencent has offered its support as the Chinese tech giant first invested in VSPN back in 2018.
Recently, in a Series B+ round, the organisation raised $60 million through a range of investors, including Guotai Junan International and Prospect Avenue Capital.