Skadden advised the underwriters, including U.S. Tiger Securities Inc., GF Securities (Hong Kong) Brokerage Limited, Kingswood Capital Partners, LLC and CLSA Limited, on the Nasdaq listing of NIP Group on July 26, 2024.
NIP Group, a global comprehensive digital sports group with e-sports at its core, issued a total of 2.25 million American Depositary Shares (ADS), with an issue price of US$9 per ADS for a total offering size of US$20.25 million (excluding exercise of the “greenshoe” option).
NIP Group’s listing on Nasdaq is a milestone event for China’s e-sports industry, establishing the first listed Chinese e-sports company. Mr. Mario Ho, Chairman and Co-CEO of NIP Group, also became the youngest founder of a Nasdaq-listed company in Asia.
The Skadden team was led by Corporate Partners Yuting Wu (Shanghai) and Yilin Xu (Beijing), with Associate Yangtian Li (Shanghai) and International Legal Project Manager Kristen Huang (Hong Kong).
