Mario Ho (center left), co-CEO of NIP Group, attends the bell ringing ceremony in the Nasdaq stock exchange to celebrate his esports company’s U.S. debut on July 26, 2024.
NIP Group
NIP Group, an esports company cofounded by Mario Ho, a son of the late legendary Macau casino tycoon Stanley Ho, ended roughly flat in its first day of trading in the U.S. on Friday, giving it a market capitalization of about $506 million
Shares of Stockholm-based NIP Group pared an initial gain to close at $9.02 on the Nasdaq stock exchange on Friday, little changed from their $9 initial public offering price. The company raised more than $20 million in the IPO that sold 2.25 million shares at the lowest end of a marketed range.
NIP Group will use the IPO proceeds for potential acquisitions, marketing efforts to grow its fan base and expand its esports teams into Southeast Asia, North America, the Middle East, Japan and South Korea, according to its…
