Gamer Pakistan Raises $6.8 Million in IPO, Plans Expansion in Esports and University Sportswear By Investing.com

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<p>Nasdaq-listed esports company, Gamer Pakistan (NASDAQ:GPAK), raised $6.8 million from its initial public offering on Monday, with shares initially trading at $4.20. The company’s inception was inspired by a 2012 football match between Pakistani and Indian students, which led to the establishment of an NCAA-type foundation for college sports in Pakistan.</p>
<p>The firm’s main focus is organizing esports events at college and inter-university levels, with further plans to venture into other markets and live sports. Gamer Pakistan envisions long-term events where Pakistani college all-stars compete against international teams, a concept that has garnered interest from ESPN.</p>
<p>In order to expand its operation, Gamer Pakistan aims to establish 10 to 20 team franchises within Pakistan, charging each franchise between $50,000 and $75,000. The company will share Name, Image and Likeness (NIL) rights with the athletes involved. Despite these ambitious plans, the company has yet to turn a profit.</p>
<p>To attract major advertisers such as Procter &amp; Gamble (NYSE:) and <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Unilever </span></span> (LON:), Gamer Pakistan is partnering with ad-tech firm Trade Desk (NASDAQ:). However, the company’s financial sustainability has been questioned by auditor Mercurius &amp; Associates LLP.</p>
<p>In addition to its esports endeavors, Gamer Pakistan also intends to tap into the rising demand for university sporting apparel in Pakistan. To drive this initiative, the company plans to appoint a Chief Revenue Officer. This move marks another step in the company’s broader strategy to diversify its revenue streams and further its growth in the region’s burgeoning esports market.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
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<br /><a href="https://www.investing.com/news/stock-market-news/gamer-pakistan-raises-68-million-in-ipo-plans-expansion-in-esports-and-university-sportswear-93CH-3193916">Source link </a></p><p>The post <a href="https://forextraderhub.com/gamer-pakistan-raises-6-8-million-in-ipo-plans-expansion-in-esports-and-university-sportswear-by-investing-com.html">Gamer Pakistan Raises $6.8 Million in IPO, Plans Expansion in Esports and University Sportswear By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>