Carey Olsen Advised NIP Group On Nasdaq IPO, Supporting China’s First Esports Stock
Carey Olsen Advised NIP Group On Nasdaq IPO, Supporting China’s First Esports Stock
Carey Olsen's corporate team in Singapore has advised NIP Group Inc., a leading global integrated digital sports group, on the Cayman Islands legal aspects of its IPO. This milestone 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.
NIP Group Inc. is a global leader in esports with a notable presence in Asia, Europe, and South America. The company’s titles frequently rank among the top ten worldwide by prize pool, and its teams have achieved victories in major international tournaments for Honor of Kings, Rainbow Six, and FIFA.
The company successfully debuted on the Nasdaq Global Market in New York on July 26, 2024, with an offering price of US$9.00 per American depositary share and a total market valuation of approximately US$500 million.
The Carey Olsen team, led by Partner Anthony McKenzie and Counsels Susan McKinstray and Maggie Yan, provided legal guidance to NIP Group Inc. alongside US Counsel Kirkland & Ellis and Chinese legal Counsel CM Law Firm.
Anthony McKenzie remarked, "This IPO represents a significant milestone for NIP Group Inc. as it enters the international capital market as China's first esports stock. The transaction underscores the strength of our capital markets team in advising on listings, issuances, and IPOs."
