Stock Track | NIP Group Soars in Nasdaq Debut as Esports Firm's IPO Draws Strong Demand

Stock Track07-27

Shares of NIP Group Inc., the parent company of Swedish professional esports organization Ninjas in Pyjamas, surged on their Nasdaq trading debut Friday, reflecting strong investor demand for the company's initial public offering.

The Stockholm-based firm's American Depositary Receipts (ADRs) climbed as much as 28% to $10.64 in midday trading, marking a significant premium over the IPO price of $9 per share. NIP Group had offered around 2.25 million shares in the IPO, raising approximately $20.3 million.

The robust stock performance underscores the growing interest in the esports industry, which has witnessed a surge in popularity and viewership in recent years. NIP Group, through its Ninjas in Pyjamas brand, operates professional esports teams and organizes gaming tournaments and events.

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