July 26, 2019 / 3:12 PM / a month ago

CORRECTED-China's Wanda Sports raises $190.4 million in downsized IPO

(Corrects reference in first paragraph to Wanda’s role with FIFA World Cup)

By Joshua Franklin

July 26 (Reuters) - Wanda Sports Group, a sport events owner whose interests include the distribution of media rights in Asia for the FIFA World Cup, on Friday priced its downsized U.S. initial public offering (IPO) below its targeted range to raise $190.4 million.

The Beijing-based company, a unit of Chinese conglomerate Dalian Wanda Group, has sold about 23.8 million American depositary shares (ADS) at $8 each, compared with a previously stated target of $9 to $11, the company said in a filing bit.ly/2OkjdyK with the U.S. SEC.

The company had earlier cut the number of ADSs on sale to 28 million from 33.33 million. (Reporting by Joshua Franklin in New York; additional reporting by Bharath Manjesh; editing by Shinjini Ganguli)

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