Comprehensive M&A data with integrated detailed company information
Wanda Sports files for Nasdaq listing
Posted on Monday, 10 June 2019 13:01
Hong Kong-incorporated sports events, media and marketing platform Wanda Sports has submitted paperwork for an initial public offering (IPO) of American depository shares on Nasdaq Global Market with a USD 500.00 million placeholder.
Morgan Stanley, Deutsche Bank Securities and Citigroup are among the six underwriters handling the listing that results in Beijing Wanda Culture Industry indirectly holding all of the outstanding class B stock.
Proceeds will be used to repay a portion of a loan outstanding under a 364-day term facility and pay related costs, and to fund strategic investments and for general corporate purposes.
Wanda Sports was formed in 2018 by holding company Wanda Sports Group in Hong Kong in 2018 to enable principal shareholder Wanda Culture to spin off and take public its sports-related units.
These businesses comprise Infront Holding, which has been active in the sports marketing industry for more than 30 years, World Endurance Holdings and Wanda Sports.
The company has significant intellectual property rights, long-term relationships and broad execution capabilities across all parts of the ecosystem, from rights owners, brands and advertisers and to fans and athletes.
It owns, or otherwise has contractual rights to, an extensive portfolio of global, regional and national sports properties.
Wanda Sports had 326 mass participation sports events in 48 countries on six continents, of which it organised 241 events in 23 countries in 2018.
The group seeks to generate revenue across the value chain, including events operation, media production and distribution, sponsorship and marketing, digital options and ancillary services.
It is billed as the number one provider of events in triathlon, mountain biking and running globally, based on revenue and number of events organised in 2018.
Wanda Sports reported revenue of EUR 1.13 billion in the 12 months ended 31st December 2018, and EUR 245.62 million in Q1 2019.
© Zephus Ltd