Sportradar files documents for IPO in US

Sportradar Group AG has formally begun an Initial Public Offering (IPO) process in the US

Sportradar Group AG has officially begun an Initial Public Offering (IPO) unconscious process inward the US.

The company has filed a enrollment financial statement with the Securities and Exchange Commission (SEC) to start up the appendage of sledding public.

The steady did non waiver a potency cost range, nor the identification number of shares it plans to offer.

This comes after Sportradar's attempt of seemly a public troupe via a special purpose acquisition keep company (SPAC). The parties mired were ultimately unable to finalise a deal.

The Switzerland-based steadfastly said it plans to "list its vernacular carry on the Nasdaq Global Select Market under the stock ticker symbolisation SRAD."

J.P. Morgan, Morgan Stanley, Citigroup and UBS Investment Bank testament wait on as Pb book-running managers for the proposed IPO. Bank of America Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity will live the additional articulatio book-running managers.

Sportradar buys sports data from leagues and regime bodies and so sells to media companies and play operators.

The industry has grown to a greater extent worthful inwards recent years as countries such as the US and Canada move to legalise sports betting.

The company has o'er 150 sports league partners and provides information to to a greater extent than 900 sports betting operators, including DraftKings, which also went public through and through a SPAC, and FanDuel.

Sportradar is the functionary partner of the NBA, NHL, MLB, NASCAR, FIFA and UEFA.