Danish esports organization Astralis Group announced its intention to trade in the US market through a double quotation on OTCQX Best Market.
The organization reportedly applied for a public listing in the country due to “the growing interest of American investors in Astralis Group.”
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If successful, US investors will be able to purchase Astralis Group shares. The organization also said the listing would increase liquidity.
Anders Hoersholt, CEO of Astralis Group, commented: “We are delighted to be potentially able to trade on the OTCQX Best Market as this will give our current and potential shareholders an additional and larger regulated platform from which they can conveniently trade our shares. From the company’s point of view, this provides an additional opportunity to be present in the growing market for esports investors in the United States. ”
In December 2019, Astralis Group became the first esports team to be publicly listed, entering Danish exchange Nasdaq under the ticker ASTGRP. Other public esports organizations include Guild Esports, ESE Entertainment, and Luckbox.
Since this company is a public company, it recently released its 2020 financial statements. Astralis Group announced “satisfactory” results, with net revenues increasing from £ 5.59 million in 2019 to £ 5.93 million in 2020. The organization also said 66% of its 2020 revenue came from sponsorships.
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Astralis Group’s OTCQX bidding process is expected to be completed within four weeks.
Hörsholt added: “Trading on OTCQX will provide expanded access for US institutional and retail investors looking to invest in our company and a proven business model, and this will enable them to be part of Astralis Group’s continued development as an international leader in growing companies. global esports industry ”.
Esports Insider says: Astralis’ decision to enter OTCQX Best Market is a smart decision, especially if there is already interest from potential investors. How effective this process is for the organization depends on the amount of investment.
Given the size of the Astralis brand both in CS: GO and in Europe in general, it will be interesting to see how US investors see the organization if it comes out on OTCQX. Overall, this looks like one of many steps in the planned global expansion of the organization.
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