Top News
China's Wanda Sports Group files for U.S. IPO
Last Updated: 2019-06-08 04:33 | Xinhua
 Save  Print   E-mail

Wanda Sports Group, the sport-related business unit of Chinese conglomerate Wanda Group, filed on Friday for an initial public offering (IPO) on the U.S. stock market.

The company plans to list on the Nasdaq Global Market under the symbol "WSG," with an expectation to raise up to 500 million U.S. dollars, according to its prospectus filed with the U.S. Securities and Exchange Commission.

It intends to use proceeds to repay loan related to group restructuring, with the balance for strategic investments and general corporate purposes.

Morgan Stanley, Deutsche Bank Securities and Citigroup are the joint bookrunners on the deal. No pricing terms were disclosed.

Wanda Sports Group is one of the world's largest sports events, media and marketing platforms in terms of revenue in 2018, according to an industry report by Frost & Sullivan, a third-party research firm.

The China-based company has a global footprint with business in the more mature sports markets of Europe, North America and Oceania, as well as the emerging markets of China, Southeast Asia and Latin America.

As of Dec. 31, 2018, it worked with more than 160 rights owners, more than 750 brands and more than 120 media broadcasters, the company said in its prospectus. Enditem

Share to 
0
Related Articles:
BACK TO TOP
  • Sports
  • Soccer
  • Basketball
  • Tennis
  • Formula One
  • Athletics
  • Others
  • Entertainment
  • Celebrity
  • Movie & TV
  • Music
  • Theater & Arts
  • Fashion
  • Beauty Pageant
Edition:
Link:    
About CE.cn | About the Economic Daily | Contact us
Copyright 2003-2015 China Economic Net. All right reserved
China's Wanda Sports Group files for U.S. IPO
Source:Xinhua | 2019-06-08 04:33
Share to 
0