Gamer Pakistan Inc. is set to make history as the first Pakistani esports company to list on the Nasdaq. With a vibrant gaming market backdrop, the company seeks to harness the youthful energy of Pakistan’s esports enthusiasts.

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In an unprecedented move, Gamer Pakistan Inc., a renowned esports company, is on the brink of becoming the first Pakistani entity to be listed on the Nasdaq. Their initial public offering (IPO) is anticipated to be priced later this Thursday.

Key Points in the Listing

The company has announced an offer of 1.7 million shares at $4 to $5 each. If they hit the higher end of this bracket, they will raise a solid $8.5 million.
Once the transaction is finalized, the total outstanding shares are projected to be 25.6 million, giving the company a whopping $128 million valuation.
Gamer Pakistan has chosen the ticker “GPAK” for its Nasdaq listing.
The sole underwriter for this deal is WestPark Capital Inc., a New York-based investment bank. Known for its involvement in emerging growth companies, it holds a strong presence in the small and micro-cap markets.

Understanding Gamer Pakistan Inc.

Established in November 2021, Gamer Pakistan prides itself on being an interactive esports event promotion and product marketing entity. Per their documentation submitted to the Securities and Exchange Commission, they described themselves as a “development-stage” company.

Pakistan’s Esports Market

Esports has seen an immense popularity surge in Pakistan, the world’s fifth-most populous country with a staggering 231 million residents. Factors that add to this dynamic include:

A youthful demographic, with 65% under 30 and a median age of 22.8 years.
An exponential rise in mobile phone users: from a meager 0.2% in 2000 to 80% in 2020.
A solid foundation of gamers: 36.8 million in 2022, projected to reach 50.9 million by 2026.
A profitable video-game industry, with revenue set to escalate from $208.7 million in 2022 to $227.4 million by 2026.

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Gamer Pakistan’s Vision

The company’s main objective is to promote college, inter-university, and professional esports events for both genders. They are especially keen on collaborating with Pakistani academic institutions. Notably, esports is officially recognized as a sport in Pakistan, which boasts nearly 1.96 million university students.

Gamer Pakistan’s future endeavors include expanding to new markets and possibly incorporating live sports. Their strategy revolves around monetizing their platform through live and delayed streaming of tournaments, primarily relying on sponsorship revenues, which formed 60% of esports income in 2022.

However, it is worth noting that despite these grand plans, the company is not profitable and has yet to generate any revenue. Their expenses for the first half of 2023 amounted to $216,271, managed through private sales and loans.

Leadership and Outlook

Under the leadership of James Knopf, the 58-year-old CEO with over 25 years in entertainment sales, the company holds promising potential. Knopf’s impressive portfolio includes collaborating with ESPN in producing the inaugural NCAA College Esports Championship in 2019.

The Renaissance IPO ETF has seen a 23% growth this year, outpacing the S&P 500’s 10% gain.