Shares of NIP Group Inc. (NASDAQ: NIPG), a leading global esports organization, skyrocketed 82.82% on Friday, following the successful completion of its initial public offering (IPO) on the Nasdaq Global Market.
The company, which operates the iconic Ninjas in Pyjamas and eStar Gaming esports brands, raised $20.25 million through the IPO, selling 2,250,000 American depositary shares (ADSs) at a price of $9.00 per ADS. Additionally, the underwriters partially exercised their option to purchase an additional 182,526 ADSs, further boosting the offering size.
The strong investor demand and successful IPO underscore the growing interest in the esports industry and NIP Group's position as a prominent player in the space. With operations spanning Asia, Europe, and South America, the company boasts a comprehensive portfolio of top-tier esports teams competing in popular titles such as League of Legends, CS:GO, Honor of Kings, Rainbow Six, Rocket League, Fortnite, and Call of Duty Mobile.
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