IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO

Wanda Sports Group, the sporting and live events unit being spun out of China's Wanda Group, filed on Friday with the SEC to raise up to $500 million in an initial public offering.

Wanda Sports is one of the world's largest sports events, media and marketing platforms in terms of revenue in 2018, owning Infront Sports & Media, World Endurance Holdings (owner of the IRONMAN triathlon competition and brand) and Wanda Sports Co (owner of the China Cup International Football Tournament and the UCI Tour of Guangxi).

The Beijing, China-based company traces its roots to 1980 and booked $1.3 billion in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol WSG. Wanda Sports Group filed confidentially on March 20, 2019. Morgan Stanley, Deutsche Bank and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.

The article IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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