Astralis to Delist from NASDAQ First North

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News/Astralis to Delist from NASDAQ First North

Written by Dante Uzel on 08 August 2023 13:31


Source: Astralis

Astralis share holders voted to delist the company from NASDAQ First North Growth Market Denmark. The company stated "Since the public listing on 9. December 2019, Astralis A/S has consistently met its financial targets. The Company has successfully pursued an agile business strategy, the development of existing and new revenue streams, and a decoupling of revenue and profit from in-game team performance. The Company has secured a continuous growth in revenue, achieved positive EBITDA in 2022 and is a significant player in the still-growing global esports industry."

"Despite the strong financial performance, the share price has dropped 80% since the listing and now trades at a material discount to the price at the initial public offering (IPO). The liquidity of the Company's share on Nasdaq First North Growth Market Denmark is very limited, which means that there is limited value for both the Company and its shareholders being listed on a public marketplace."

"The delisting of Astralis A/S from Nasdaq First North Growth Market Denmark was adopted, and the board and management will now proceed with the application for delisting from Nasdaq First North Growth Market Denmark."

Tags: Astralis

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