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Highlights
- Sportradar has taken the IPO route after its merger talks with a special purpose acquisition company (SPAC) failed to materialize.
- Started in 2001, Sportradar has emerged as one of the leading providers of sports betting and entertainment services across the world.
- Sportradar covers at least 750,000 events worldwide across 83 sports.
Sportradar AG, a Switzerland-based multinational corporation for sports data analysis, is planning to go public in the US stock markets and has listed the expected size of common stock offering as US$ 100 million.
As sporting events are returning to their normal routine amid the ongoing COVID-19 pandemic, many companies involved in the sports business are exploring business expansion options through initial public offerings (IPOs).
According to reports, the sports data company has taken the IPO route after its merger talks with a special purpose acquisition company (SPAC) failed to materialize. Sportradar was in talks with a blank-check company called Horizon Acquisition Corp. II, which was started by Todd Boehly, the co-founder of Eldridge Industries.
Sportradar has filed the documents with the US Securities and Exchange Commission (SEC) and is planning to list its shares on the Nasdaq Stock Market.
A little about Sportradar
Started in 2001, Sportradar has emerged as one of the leading providers of sports betting and entertainment services across the world. The company seems to better-positioned for the diverse sports industry which generates billions of dollars worldwide.
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As per the company website, Sportradar, with a presence in over 120 countries, has employees across 19 countries. The sports data company is a trusted partner of over 1,600 customers and its official partners include FIFA, UEFA, NBA, MLB and NASCAR.
Since it is a market leader, every year, Sportradar covers at least 750,000 events worldwide across 83 sports.
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How to buy Sportradar stock?
The company might make its public debut sooner than expected as this year has seen numerous IPOs worldwide. People are pumping money into the equity markets, and this is forcing the private companies to opt for IPOs and raise money in gross proceeds.
Financial institutions Morgan Stanley and JPMorgan Chase & Co. are set to be the lead underwriters for its initial stock offering. Once the IPO is through, Sportradar stock is likely to trade under the symbol ticker of 'SRAD'.
Some brokerage companies and stockbrokers offer pre-IPO shares to retail investors. Those interested in this stock can explore setting up a trading account or getting in touch with a stockbroker, as that could help one get its shares before the company starts trading in the stock market.
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Bottomline
While investing in pre-IPO shares is known to have helped some retail investors book profit, as shares often open at a higher price at the time of the stock market debut, it can also be a risky investment. Hence, proper investigation is necessary.
Also, debuting shares can also end up at lower prices post IPO, which is a factor investors one should be aware when exploring pre-IPO options.
