Chinese Esports company NeoTV files for $55M US IPO

Manish Gupta -

NeoTV, headquartered in Shanghai but incorporated in the Cayman Islands, operates in China via a variable interest entity, VIE, and its subsidiary NeoTV Beijing.

Overview:

  • Chinese Esports content provider and events operator NeoTV (NTV) has filed for a $55M US initial public offering.
  • NeoTV didn't state how many shares it intends to offer or the price in its filing but indicated in a filing fee schedule that it was looking to raise around $55M.

NeoTV (NTV), a Chinese Esports content provider and event organizer, has filed for a $55 million US initial public offering.

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NeoTV did not specify the number of shares or the price in its registration, but it disclosed in a filing fee schedule that it hoped to raise roughly $55 million. Prime Number Capital is the primary book-runner.

Chinese Esports business NeoTV submits $55 million US

Chinese Esports business NeoTV submits $55 million US. Picture: Esports

The business intends to float its stock on Nasdaq under the ticker code NTV. NeoTV, headquartered in Shanghai but incorporated in the Cayman Islands, operates in China via a variable interest entity, VIE, and its subsidiary NeoTV Beijing. The firm has been losing money. NeoTV reported a net loss of $437K on $7.2M in sales for the six months ending June 30. Mobile Global Esports (MGAM), popularly known as Mogo, an Indian Esports firm, raised $6 million in a US IPO in July.

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NeoTV (NTV), a Chinese Esports content and event organizer, has filed for a $55 million US initial public offering. NeoTV didn't specify how many shares or at what price it planned to sell them in its file, but it did say in the filing fee schedule that it hoped to generate around $55 million. As the principal book-runner, Prime Number Capital is responsible.

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The business plans to float its stock on Nasdaq with the ticker NTV. NeoTV, a Cayman Islands-incorporated company headquartered in Shanghai, operates in China via a variable interest entity (VIE) and its subsidiary, NeoTV Beijing. The business has been losing money. NeoTV reported a net loss of $437K on $7.2M in sales for the six-month period that ended on June 30. Mobile Global Esports (MGAM), popularly known as Mogo, an Indian Esports organization, received $6M via a US IPO in July.

You can also download the Tournafest app from Google Play or App Store to play Esports Tournaments & Scrims games like BGMI, Free Fire MAX, Call of Duty, CS: GO, Valorant, Pokemon Unite & win exciting rewards! You can also go ahead and organize Tournaments & fetch unmatched perks.

Until next time,

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