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Financials

CORRECTED-Canada pension fund-backed Sportradar files for U.S. listing (Aug. 17)

(Corrects paragraph 2 to say official partners were National Basketball Association and National Hockey League, not National Basketball League and National Football League)

Aug 17 (Reuters) - Switzerland’s Sportradar Group AG, a sports data provider backed by the Canada Pension Plan Investment Board, filed paperwork with U.S. regulators on Tuesday for an initial public offering (IPO).

Founded in 2001 by Carsten Koerl, Sportradar serves more than 1,600 customers across 120 countries and is an official partner of the National Basketball Association, the National Hockey League and the NASCAR, its website showed.

Koerl had also co-founded online sports-betting platform Betandwin, which later came to be known as Bwin.

Sportradar, whose other backers include basketball legend Michael Jordan and billionaire Mark Cuban, said in a regulatory filing that its revenue surged 42% to 272.1 million euros ($318.60 million) in the six months ended June 30, 2021.

It did not disclose the number of shares it looks to sell in the IPO and its target price range. It plans to list on the Nasdaq under the ticker symbol “SRAD.”

J.P. Morgan and Morgan Stanley are the lead underwriters for the offering. ($1 = 0.8540 euros) (Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni)

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