Dec 2, 2019 - Economy & Business
Esports group Astralis plans industry's first IPO
- Dan Primack, author of Axios Pro Rata
Illustration: Sarah Grillo/Axios
Astralis, a Denmark-based esports group that includes the world's top-ranked Counter-Strike team, is planning to go public next week in Copenhagen.
Why it matters: This would be the first-ever public listing of an esports group, possibly priming investors for future floats from larger organizations.
- Canada's Overactive Media, for example, has been weighing an IPO, and NRG Sports' Andy Miller tells Axios that he's been approached by Canadian banks about a Toronto listing ("we felt it was too early").
Details: Astralis is set to list on the Nasdaq's Copenhagen exchange for small companies, raising between $18 million to $22 million.
The bottom line: "The global esports market will generate almost $2 billion in 2022, with global esports viewership expected to reach 595 million that year," writes Bloomberg's Nick Rigillo.
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