NeoTV Group, an esport event operator and variety show producer in China, filed on Friday with the SEC to raise up to $55 million in an initial public offering.
NeoTV specializes in hosting, operating, and promoting esports competitions and professional events in China. The company has hosted and organized a variety of games both globally and domestically, including the National Electronic Sports Open, Tencent Global E-sports Arena, and certain professional events. Its major customers include esports game developers, sponsors, advertisers, and game live streaming companies, and it primarily generates revenue from providing integrated services to esports tournaments and variety shows.
The Shanghai, China-based company was founded in 2006 and booked $30 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol NTV. Prime Number Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
