Astralis Aims for First Esport Team IPO
Cover Image Courtesy: Astralis | Thumbnail Image Courtesy: Astralis
The four-time CS:GO Major champions, Astralis is all set to become the first esports team in the world to go public, with the listing due to take place on 9th December on Nasdaq’s Copenhagen exchange for small companies.
The Danish organization whose primary title of operation is CS:GO has slowly expanded itself to League of Legends and FIFA, while partnering with companies like Audi, Turtle Beach, Jack&Jones, Logitech, etc.
According to the teams’ brochure, the organization aims to raise DKK 125-150 million ($18-22 million), with the shares priced at DKK 8.95 ($1.32). The minimum purchase was set at 450 shares which is equivalent to DKK 4,027.50 ($593.88), with the subscription period already coming to an end yesterday.
In an interview with Bloomberg, Nikolaj Nyholm - founder and co-ceo, strategy and business development, went on to showcase his confidence in the success of the IPO while saying that,
“We believe that the foundation of some of the most valuable and iconic brands in 10 years’ time is being set today.”
He said that going public rather than raising venture capital will help Astralis focus on a longer time horizon. With only a week more to go before the listing is due to take place, Astralis will be more focussed on winning the ECS Season-8 Finals first.
The tournament taking place in Arlington, USA, has witnessed the Danes already cement a place for themselves in the semifinals, along with their close rivals Team Liquid. Let’s see if the two face each other in the finale.