Danish esports organization Astralis Group has announced its intention to trade in the US market through a double quotation on the OTCQX Best Market.
According to a press release, the organization applied for a public listing in the country due to the growing interest of American investors in Astralis Group.
If successful, American investors will be able to purchase Astralis Group shares. The organization also said the listing is expected to increase liquidity, which bodes well for further gains in the share price.
As a reminder, in December 2019 Astralis Group became the first esports organization to be publicly listed on the Danish Nasdaq stock exchange under the ticker ASTGRP. Since then, other esports organizations have entered the exchange, including Guild Esports, ESE Entertainment and Luckbox.
Due to the organization's public listing, the financial report for 2020 was recently released. Astralis Group announced "satisfactory" results, increasing its net revenue from £ 5.59m in 2019 to £ 5.93m in 2020. The organization also said 66 percent of its 2020 revenues came from sponsorship agreements.
Astralis Group's OTCQX trading application process is expected to be completed within four weeks.