Investments, Mergers, & Acquisitions

Astralis Group declares intention to commerce in US market

Danish esports organisation Astralis Group has introduced its intention to commerce within the US market via a twin citation on the OTCQX Finest Market.

Based on the discharge, the organisation has utilized to be publicly listed within the nation as a result of ‘rising US investor curiosity’ in Astralis Group.

Photograph credit score: Astralis Group / DreamHack

RELATED: Astralis extends and expands HP business partnership

If confirmed profitable, US-based traders will have the ability to buy Astralis Group shares. The organisation has additionally acknowledged that the itemizing is anticipated to extend liquidity.

Anders Hørsholt, CEO Astralis Group, commented: “We’re happy to doubtlessly commerce on the OTCQX Finest Market as it should give our present and potential shareholders a further and bigger regulated platform from which they will conveniently commerce our shares. From the corporate’s perspective, it offers added publicity to an increasing US market of esports traders.”

In December 2019, Astralis Group turned the primary esports staff to be publicly listed by getting into into the Danish Nasdaq trade beneath the ticker ASTGRP. Different publicly listed esports entities embody Guild Esports, ESE Leisure, and Luckbox.

Attributable to being a publicly listed firm, the organisation lately posted its monetary report for 2020. Astralis Group claimed ‘passable’ outcomes with its internet income rising from £5.59m in 2019 to £5.93m in 2020. The organisation additionally revealed that 66 p.c of its 2020 income got here from sponsorships.

RELATED: Astralis stories slight improve in income for 2020

Astralis Group’s software course of to commerce on OTCQX is anticipated to be finalised inside 4 weeks. 

Hørsholt added: “Buying and selling on OTCQX will safe elevated entry for US institutional and retail traders seeking to spend money on our firm and confirmed enterprise mannequin and it’ll present a chance to be part of Astralis Group’s continued improvement as a world chief within the rising, international esports business.”

Esports Insider says: Astralis’s choice to enter into the OTCQX Finest Market is a great choice, particularly if there’s already curiosity from potential traders. How impactful this course of shall be for the organisation will depend on how a lot funding is generated.

Contemplating the scale of Astralis’s model, each in CS:GO and Europe usually, it’ll be attention-grabbing to see how US traders see the organisation ought to it go on OTCQX. Total, this appears to be one among many steps within the organisation’s deliberate international growth.

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