Gamer Pakistan Becomes First Pakistani Esports Company To List On NASDAQ

According to the latest reports, Gamer Pakistan Inc. has become the first Pakistan-based company to list on the National Association of Securities Dealers Automated Quotations Stock Market (NASDAQ). Gamer Pakistan is actually an early-stage technology and esports company in Pakistan. It focuses on game development and in-game AI community engagement. Moreover, it was founded back in 2021. The company also organizes esports events for people of all ages and genders in Pakistan. Recently, it became the first esports company in Pakistan to trade on NASDAQ.

Gamer Pakistan Will Be Trading On NASDAQ Under the Ticker Symbol “GPAK”

Gamer Pakistan has two subsidiaries:

  • K2 Gamer Pakistan (PVT) Ltd.
  • Elite Sports Pakistan Pvt. Ltd.

Reports claim that the Nasdaq Opening Bell rang on October 9 from 9:15 a.m. to 9:30 a.m. ET. The Pakistani esports company started to trade on the Nasdaq Capital Market on Monday under the ticker symbol “GPAK”. Moreover, Gamer Pakistan also announced the pricing of its initial public offering (IPO) of 1,700,000 of $4.00 price per share on 28th September. The Nasdaq Opening Bell Ringing Ceremony is actually a tradition that dates back to 1953. It is a way to honor the success of new companies trading on the Nasdaq exchange. In addition, the ceremony is also a way to promote the Nasdaq exchange in order to attract new investors.

The company operates through K2 Gamer, in which it has 90% ownership. It is pertinent to mention here that this company generates no profit or revenue. Mercurius & Associates LLP, the company’s auditor, states:

“The shortfall raises substantial doubt about the company’s ability to continue as a going concern.”

GPAK has plans to organize 12 or more events in 2023. Moreover, it aims to make up for its revenue shortfall. Right now, the company plans to focus on colleges and institutions to grow to other sectors and even explore live sports in the future.

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Laiba Mohsin

Laiba is an Electrical Engineer seeking a placement to gain hands-on experience in relevant areas of telecommunications. She likes to write about tech and gadgets. She loves shopping, traveling and exploring things.

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