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.
