Danish Impact Report

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Astralis Group – the future of entertainment

  • In December 2019, Astralis Group became the first publicly listed esports company in Denmark.


By 2020, the global esports industry is expected to generate $1.5bn in annual revenue and reach a global audience of 600 million fans and viewers. There is no doubt that the esports industry is growing, and it is growing fast!

In Denmark, the hype has not gone by unnoticed either. In fact, Astralis, a Danish Counter-Strike team, is widely known as the best Counter-Strike team in history and was in both 2018 and 2019 the most viewed esports team globally. Behind the world-famous Astralis team is the Danish sports and media company, Astralis Group.

Astralis Group has widely been recognised as a pioneer in the esports industry because of its unique approach to performance and a healthy lifestyle. The Group has developed its own unique performance model that balances three core dimensions into a winning recipe: physical (e.g., nutrition and sleep), mental (e.g., dynamics and profiling), and technical (e.g., skills and playbook).

Being pioneers and doing things so noticeably different than everybody else in the industry requires a lot of skills and capital. Therefore, Astralis Group decided in August 2019 that it was time to seek further funding through an IPO on NASDAQ Copenhagen First North. By doing so, Astralis Group would become the first publicly listed esports company and the first team-driven esports company on the stock exchange.

“Completing an IPO with a three-month timeframe sets a
lot of demands on the process and it requires full focus
on detail from everybody involved. We decided to work
with Deloitte based upon previous experience within the management team and, despite a very short lead time, Deloitte delivered on all parameters and we were very satisfied with their services”.

Anders Hørsholt, CEO of Astralis Group

To advise and support Astralis Group on its IPO readiness journey, the group partnered with Deloitte. Deloitte’s IPO expert team assisted Astralis Group in fulfilling the purpose of the IPO: to strengthen Astralis Group’s international position through further investments in their brands and media business to ensure continued growth, winning teams, and broadly embracing international media platforms.

After an intense three-month fast-track IPO journey with several Deloitte services involved, from IPO services and tax advisory to accounting assistance and financial advisory, Astralis Group was ready for its first listing date in December 2019 as planned. The IPO was a success with Astralis Group’s offering of new shares being oversubscribed and the general purpose being fulfilled.

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