First Ever eSports IPO Planned Courtesy of Astralis

Written by :

Alistair Prescott

Published on :

29 November, 2019

The Danish eSports firm Astralis Group is looking to go public on December 9, making this the first time an eSports team has ever proposed an Initial Public Offering. Astralis is the favorite to win the ESL Pro League Finals December 3.

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The IPO would take place on Nasdaq's exchange for small companies in Copenhagen.

The company intends to raise between DKK 125 million (€16.7 million) and DKK 150 million (€20.1 million), with shares priced at DKK 8.95 each.

The Astralis organization is partially owned by players of the former Danish Team SoloMid/Questionmark lineup.

Astralis CEO Nikolaj Nyholm said he has already secured $8 million in pre-commitments "from a range of European and Asian investors."

"We believe that the foundation of some of the most valuable and iconic brands in ten years' time is being set today," he added.

"We are pioneers already standing on solid ground," Nyholm said in the company's IPO brochure. "And through this IPO we seek to strengthen the foundation to invest further in the development of the world's strongest esports team brands within competitive, digital live entertainment."

- Alistair Prescott, Gambling911.com