According to Bloomberg, the world’s first IPO of the eSports team will soon be held. He is led by the Danish team Astralis, which is the world champion in Counter-Strike.
The global e-sports market is now valued at $ 1.1 billion.
Where can I buy stocks
Trading in Astralis shares starts on December 9 at the Nasdaq First North Growth Market Denmark in Copenhagen – this is the exchange where small companies place their shares. The organization plans to raise $ 18-22 million (125-150 million Danish kroner, starting price per share – 8.95 kroner).
According to Astralis CEO, Nikolaj Nyholm, there is no doubt about the success of the IPO. The company has already managed to conclude preliminary deals for the purchase of shares for $ 8 million with a “wide range of European and Asian investors.”
Why cybersports IPO
Astralis team was founded in 2016. Its members are world champions in the game Counter-Strike: Global Offensive. The team has participated in many tournaments and won millions of dollars in prize money.
Successful performances brought esportsmen contracts with major brands such as Audi and Logitech. As a result, the esports team was transformed into the Astralis Group media company, which now has League of Legends and FIFA teams.
According to Nyholm, the company could attract the money of venture investors for development, but instead it was decided to make it public. This will attract a wider circle of investors and get the opportunity to focus on longer-term development. The money raised will be spent on developing the brand and media platform.
In our blog, we have repeatedly talked about why companies conduct IPOs. In particular, this is done by Russian companies on the Moscow stock exchange. Successful examples of share offerings include an additional placement of Yandex shares, SoftLine (a total of 2.7 billion rubles) or PJSC NK Russneft (a total of 32.4 billion rubles = $ 501.33 million).