Sportradar plans to commence its initial public offering (IPO) of 19 million of its Class A ordinary shares, the company announced today.
The group has applied to list the shares on the Nasdaq Global Select Market under the ticker symbol SRAD.
The provider of sports betting and sports entertainment products and services is aiming to raise as much as $532m, with the shares priced between $25 and $28 apiece, according to Yahoo Finance.
As well as the Class A ordinary shares sold in the public offering, the Switzerland-based company said that entities affiliated with Eldridge and Radcliff Management LLC, and certain other investors, have agreed to buy $159m of its Class A ordinary shares at IPO price.
J.P. Morgan, Morgan Stanley, Citigroup and UBS Investment Bank will act as lead book-running managers for the proposed offering, while BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity will act as joint book-running managers.
And Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group will act as co-managers.
Launched in 2001, Sportradar is an official partner of the National Hockey League, National Basketball Association, and NASCAR. The group serves over 1,600 customers throughout 120 countries, with its partners including the likes of ESPN, DraftKings and Twitter.