Astralis Group has announced its intentions to list an initial product offering (IPO) on the Nasdaq First North Growth Market.
The parent company of Astralis, Origen, and Future FC, Astralis Group was formed when RFRSH Entertainment separated its teams and tournament circuit, BLAST Pro Series.
The listing is scheduled to take place later in 2019, though a specific date hasn’t been disclosed at the time of writing. Details on the prospectus and subscription details will be published at a later date, according to an announcement.
Nikolaj Nyholm, Founder and CEO of Astralis Group discussed the decision in a release, which Esports Insider translated online: “Esports is already a billion-dollar industry, measured in US dollars and especially in the US and Asia, investing heavily in the industry. We in Astralis Group have created a strong foundation and a leading position in many areas and we want to consolidate with the listing. We will invest in facilities, performance tools, organization, media channels and commercial platforms, so we can maintain and develop our position.
“We will invest in making sports and our own brands even more interesting for the fans and more easily accessible to a much wider audience. We will continue to build the most winning teams in the world, as well as develop our commercial platforms. We see great potential in further developing our products and scaling the business globally. With the professionalization that takes place in the industry, it is also an advantage to ensure a sound capital resources.”
Astralis Group hired Anders Hørshol, former CEO of FC Copenhagen and Vice President of MTG Nordic, as its Co-CEO in September. A month prior, the company launched a FIFA-dedicated brand named Future FC.
Having now split with Astralis Group, RFRSH Entertainment is upgrading its offering in 2020 with the launch of BLAST Premier. The Counter-Strike: Global Offensive tournament series will have a total prize pool of $4.25 million (£3.4 million) for the year.
Esports Insider says: Astralis Group has a very strong offering in Astralis and Origen, and another potential powerhouse in the pipeline with Future FC. With its immense popularity across its portfolio, we imagine Astralis Group will have a strong response to its IPO once it’s launched. Now, we’re just awaiting more information.