Carey Olsen advises NIP Group Inc. on its IPO on Nasdaq, supporting the first esport stock from China
Carey Olsen's corporate team in Singapore is advising NIP Group Inc., a leading global integrated digital sports group, on the Cayman Islands legal aspects of its IPO. This makes NIP Group the first listed Chinese company in the esports industry and its founder, Mario Ho, the youngest founder of a Nasdaq-listed company in Asia.
The company successfully listed on Nasdaq Global Market in New York on 26 July 2024 and the price in the offering was US$9.00 per American depositary share, with a total market value of the company of approximately US$ 500 million.
Carey Olsen partner Anthony McKenzie and counsels Susan McKinstray and Maggie Yan advised NIP Group Inc. alongside US counsel Kirkland & Ellis and Chinese legal counsel CM Law Firm.
Anthony McKenzie commented: "This IPO will mark a significant milestone for NIP Group Inc. for its entrance into the international capital market as China's first esports stock. This transaction highlights the continued strength of our capital markets team in advising on listings, issuances and IPOs."
NIP Group Inc. is a global esports leader with a strong presence in Asia, Europe, and South America. Their titles consistently rank among the top ten worldwide in terms of prize pool, and their teams have achieved victory in premier international tournaments for Honor of Kings, Rainbow Six, and FIFA.
NIP Group Inc. was one of the first companies to submit a filing application under the China Securities Regulatory Commission's rules for overseas listings by domestic companies.
