Deals
Sportradar Drops in Trading Debut After $513 Million IPO
- Shares fall as much as 10%, valuing company at $7.4 billion
- Sports data provider opted for IPO after SPAC talks ended
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Sportradar Group AG opened its U.S. trading debut at its initial public offering price and fell from there, giving the sports data provider a market value of $7.4 billion.
The company sold 19 million shares for $27 each to raise $513 million after marketing them for $25 to $28. After opening trading Tuesday at the IPO price, the shares fell as much as 10% and closed down 7.2% to $25.05 in New York trading.