NIP Group Inc. Announces Closing of its Initial Public Offering and Partial Exercise of Underwriters' Option to Purchase Additional ADSs
NIP Group Inc. - American Depositary Shares (NIPG)
Company Research
Source: GlobeNewswire
STOCKHOLM, July 29, 2024 (GLOBE NEWSWIRE) -- NIP Group Inc. (NASDAQ: NIPG) ("NIP" or the "Company"), a leading esports organization with expansive global footprint by virtue of its operations across Asia, Europe, and South America, today announced the closing of its initial public offering of 2,250,000 American depositary shares ("ADSs") at a price of US$9.00 per ADS. In addition, the underwriters partially exercised their option to purchase an additional 182,526 ADSs at the initial public offering price on July 26, 2024. Each ADS represents two Class A ordinary shares of the Company. The exercise of the underwriters' option closed concurrently today. NIP's ADSs began trading on the Nasdaq Global Market on Friday, July 26, 2024, under the ticker symbol "NIPG." Mario Ho, Chairman and co-CEO of NIP Group, commented, “Creating extraordinary esports experiences and connecting dreams worldwide remains the core mission of NIP Group, driving our continuous progress. The successful complet
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