Sportradar: IPO on the New York Stock Exchange (NASDAQ), group valued at more than $7bn

Sportradar AG, a Swiss company specialised in sports betting monitoring and sports data provision, has listed on the New York Stock Exchange (NASDAQ) and raised $513m (€434m) via the issue of 19 million shares at $27 each (€22.8) on 14/09/2021.

A further $159m (€134m) was raised, according to documents filed with the Securities and Exchange Commission (SEC), the US financial markets regulator and supervisor. This private fundraising notably involved Todd Boehly, co-owner of the Los Angeles Dodgers (MLB).

Together, these transactions valued the company, which also counts among its shareholders Michael Jordan (ex-basketball player) and Mark Cuban, owner of the Dallas Mavericks (NBA), at $7.4bn (€6.2bn). Carsten Koerl, founder and CEO of Sportradar, retains over 80% of the voting rights.

Sportradar posted a turnover of €272m ($322m) in the first six months of 2021, compared with €192m in the same period in 2020. Its profit fell to approximately €18m from €20m in the same period last year, according to documents released at the time of the IPO (initial public offering). Sportradar posted…