Esports holding company NIP Group is expected to begin trading on the NASDAQ Stock Exchange today, with the company announcing its initial public offering (IPO) pricing.
NIP Group stock will be found on NASDAQ via the ‘NIPG’ ticker. The company will release 2.25m ADS shares at a price of $9 (~£7) each, valuing the IPO at around $20m (~£15.5m).
The listing comes just over a month after the company first announced its intention to be listed on NASDAQ. The company announced that each ADS (American depositary share) represents two Class A ordinary shares of the company and that the underwriters have an option to purchase up to 337,500 additional ADSs, if they so desire.
NIP Group said in a release that the offering is expected to close on July 29th, pending any regulatory approval issues. To celebrate the company’s public listing NIP Group Co-CEOs Hicham Chahine and Mario Ho will ring the NASDAQ Opening Bell when training begins around 9:30 am ET (2:30 pm BST).
