iconEN DE CN BR ES RU
Image
Icon
Jamie | 13. April 2021

Astralis Aims to List on US Stock Exchange

Esports organization Astralis has achieved everything that there is to achieve in Europe, with the Dane’s now seemingly setting their sights on the US market. Astralis has applied for a public listing on the US stock exchange, following interest from a potential investor.

The Astralis Group has been public on the Danish Nasdaq exchange since back in December 2019, having become the first Esports team to do so in the process. The Astralis Group is the parent company of teams that compete in CS:GO, League of Legends and FIFA.

Why Astralis is Looking to Enter the US Market

In part to the Covid-19 pandemic, Astralis recorded an $8.5 million loss in 2020, with their annual report having therefore been described as “satisfactory”. Astralis is widely regarded as having the best CS:GO team in the history of the game, however with the scene having been impacted heavily by travel restrictions, it comes as no surprise that the numbers have not been so favorable.

The organization is now seeking to trade on the OTCQX, which would make it possible for those in the US to buy shares in Astralis. It is understood that the org could have to wait up to four weeks to see whether their application has been approved. Should it go through, Astralis would be dual listed in both Denmark and the United States.

What Astralis Has Said on the Potential Move

This would certainly help the org in attracting a more global audience, with the vast majority of their fans at present being found in Europe. Speaking on the possibility, Astralis Group CEO, Anders Horsholt, had the following to say: “From the company’s perspective, it provides added exposure to an expanding US market of esports investors. Trading on OTCQX will secure increased access for US institutional and retail investors looking to invest in our company and proven business model and it will provide an opportunity to be a part of Astralis Group’s continued development as an international leader in the growing, global esports industry.”

Astralis joins Guild Esports in attempting to trade on the OTCQB, with the British organization, co-owned by David Beckham, having also looked to improve their chances of receiving investment from the US.