NIP Group, the esports organization behind the Ninjas in Pyjamas teams in Sweden and China, raised $20 million by offering 2.3 million ADSs at $9, the low end of the range of $9 to $11.
NIP Group is an esports organization with operations across Asia, Europe, and South America. The company operates two esports brands: Ninjas in Pyjamas and eStar Gaming. Ninjas in Pyjamas, its PC/console esports brand, was founded in 2000 in Sweden, while eStar Gaming, its mobile esports brand, was founded in 2014 in China. It also has a comprehensive portfolio of esports teams, competing at the highest level in video game titles such as League of Legends, CS: GO, Honor of Kings, Rainbow Six, Rocket League, Fortnite, and Call of Duty Mobile.
NIP Group plans to list on the Nasdaq under the symbol NIPG. Tiger Brokers acted as sole bookrunner on the deal.
