Sportradar to go public with $21 billion valuation after IPO prices

Sportradar Group AG is set to go public Tuesday, after the Switzerland-based sports betting and sports entertainment products company’s initial public offering priced overnight at $27.00 per share. The company sold 19.0 million Class A shares to raise $513.0 million. With 1.11 billion Class A and Class B shares to be outstanding after the IPO, the pricing values the company at about $21.07 billion. The stock is expected to begin trading Tuesday on the Nasdaq under the ticker symbol “SRAD.” The company is going public at a time that the Renaissance IPO ETF has gained 5.9% over the past three months while the S&P 500 has tacked on 5.0%.

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