Denmark's Astralis is set to become the first esports team to go public in a bid to cement its status in a $1.1 billion global market that's more than doubled since 2016.

Astralis is ranked the world's number one in Counter-Strike: Global Offensive, a popular first-person shooting game, and has won millions of dollars in tournament prizes. The success has earned it commercial endorsements with brands such as Audi and Logitech. Now operating as a media company, the Astralis Group has expanded with teams competing in League of Legends and EA's FIFA.

The listing is due to take place Dec. 9 on Nasdaq's Copenhagen exchange for small companies. According to its prospectus, Astralis plans to raise 125 to 150 million kroner ($18 million to $22 million), with shares priced at 8.95 kroner.