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Danish esports organisation Astralis Group has introduced its intention to commerce within the US market via a twin citation on the OTCQX Finest Market.
In line with the discharge, the organisation has utilized to be publicly listed within the nation attributable to ‘rising US investor curiosity’ in Astralis Group.
RELATED: Astralis extends and expands HP business partnership
If confirmed profitable, US-based buyers will have the ability to buy Astralis Group shares. The organisation has additionally acknowledged that the itemizing is predicted to extend liquidity.
Anders Hørsholt, CEO Astralis Group, commented: “We’re happy to doubtlessly commerce on the OTCQX Finest Market as it would give our present and potential shareholders an extra and bigger regulated platform from which they’ll conveniently commerce our shares. From the corporate’s perspective, it gives added publicity to an increasing US market of esports buyers.”
In December 2019, Astralis Group turned the primary esports crew to be publicly listed by getting into into the Danish Nasdaq change beneath the ticker ASTGRP. Different publicly listed esports entities embody Guild Esports, ESE Leisure, and Luckbox.
As a consequence of being a publicly listed firm, the organisation just lately posted its monetary report for 2020. Astralis Group claimed ‘passable’ outcomes with its web 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 experiences slight improve in income for 2020
Astralis Group’s utility course of to commerce on OTCQX is predicted to be finalised inside 4 weeks.
Hørsholt added: “Buying and selling on OTCQX will safe elevated entry for US institutional and retail buyers trying to put money into our firm and confirmed enterprise mannequin and it’ll present a possibility to be part of Astralis Group’s continued growth as a world chief within the rising, international esports trade.”
Esports Insider says: Astralis’s choice to enter into the OTCQX Finest Market is a brilliant choice, particularly if there’s already curiosity from potential buyers. How impactful this course of might be for the organisation relies on how a lot funding is generated.
Contemplating the scale of Astralis’s model, each in CS:GO and Europe typically, it’ll be attention-grabbing to see how US buyers see the organisation ought to it go on OTCQX. Total, this seems to be certainly one of many steps within the organisation’s deliberate international enlargement.
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