Mubasher: NIP Group Incorporation, a leading esports organisation, has priced its initial public offering (IPO) of 2.25 million American depositary shares (ADSs) at $9.00 per ADS, according to a press release.

The total offering size stood at $20.25 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents two Class A ordinary shares of the Company.

The ADSs were approved for listing and were traded on the Nasdaq Global Market on 26 July 262024 under the ticker symbol “NIPG.”

The group has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 337,500 additional ADSs.

US Tiger Securities acted as lead underwriter and representative of the underwriters of the offering. GF Securities (Hong Kong) Brokerage Limited, CLSA Limited and Kingswood Capital Partners, LLC were the co-managers for the offering.