Hong Kong (CNN Business) A popular video streaming platform has gone public in the biggest Wall Street debut by a Chinese company so far this year.

Tencent TCEHY DouYu, a live-streaming platform for gamers backed by Chinese tech giant, began trading on the Nasdaq on Wednesday under the ticker symbol "DOYU."

The shares dipped in early trading, dropping less than 1% to around $11.40. They had been priced at $11.50 in the initial public offering, the bottom of the company's target range.

The company said in a statement that it expected to raise about $775 million through the share sale, making it the largest initial public offering by a Chinese firm in the United States so far this year, according to data from Dealogic and Refinitiv.

Luckin Coffee LK That would break the record set in May, when Starbucks rival went public , raising about $645 million, according to Refinitiv.