Guild Esports (GILD ) confirmed that its shares have started trading on the OTCQB Venture Market after it received the go-ahead from the OTC Market Group Inc. It said US investors will now have the opportunity to share in Guild’s growth “as the esports market gains momentum.”
The esports organisation, which is co-owned by David Beckham and last year became the first esport organisation to list on London’s stock exchange, announced that it had filed an application for its shares to be cross-traded publicly on OTCQB back in February 2021.
The Group said its reason for seeking the listing was to make Guild available to US markets in order to gain access to a broader investor base and enhance its visibility in North America.
The Company said OTCQB ‘offers transparent trading in entrepreneurial and development stage companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process.’
Kal Hourd, CEO of Guild, said: “Guild is thrilled to begin trading on the OTCQB Venture Market. The cross-trading of the ordinary shares from London will provide the Company with increased access to US institutional and retail investors and a broader shareholder base.”
David Beckham, who is a co-owner of Guild, said: “It has been great to see Guild start to make its mark with top rankings across all teams and some great commercial partners like Subway and Samsung. It will be exciting to see this next stage in Guild’s development.”
Jonathan Dickson, VP of International Corporate Services at OTC Markets, added: “We are delighted to welcome Guild Esports plc to the OTCQB Market. The OTC Market supports international companies seeking to strengthen visibility and transparency in the US public market. Trading on the London Stock Exchange and on the OTCQB Market will enable Guild to efficiently build global investor awareness and provide US investors with a seamless trading facility, enabling them to more easily trade through the broker of their choice.”
Guild Esport’s investors include London-listed Blue Star Capital. To date, the investment company, which is focused on investing in new technologies, has invested around £0.706 million in Guild Esports, and holds around a 5.95% of the issued share capital of Guild.
Guild was admitted to the Official List and started trading on the standard segment of the London Stock Exchange in October 2020 to take advantage of the growing esports markets.
Blue Star says the esports market is experiencing significant growth. In 2020 it was estimated at c.495m viewers and is projected to reach around 646 million viewers by 2023. This is expected to result in revenues growing over the same period from $950m to $1.60bn.
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