An Amateur Esports League and the World’s Largest Cigarette Producer Both Plan IPOs This Year
In the first week of 2019, no new firms completed initial public offerings on U.S. exchanges, likely a result of the government shutdown and continued market volatility. However, the new year did bring news to IPO markets. Esports community Super League Gaming has submitted its registration for an IPO on the Nasdaq market. One of the most recognizable brands for amateur gamers, the company connects gamers and venues across cloud-based networks. Super League Gaming also boasts a handful of partnerships with major game publishers. The company seeks a $25-million market offering.
Another big announcement emerged as China National Tobacco Corp., the world’s largest cigarette maker, is planning to list its international unit on the Hong Kong exchange this year. A state monopoly, the international unit is responsible for procuring tobacco leaves from overseas locations such as Brazil and Canada. China National Tobacco produces four of every ten cigarette sticks world-wide and has a global market share larger than the its next five competitors combined.
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