Infront aligns organisational structure with future business needs
Infront appoints new global Head of Football
Wanda Group completes acquisition of Infront Sports & Media AG
Dalian Wanda announces Wanda Sports - Worlds leading sports business integrates Infront Sports Media and World Triathlon Corporation
Infront and PSA to usher in new era for squash with landmark agreement
Beijing, China (GLOBE NEWSWIRE) - Wanda Sports Group Company Limited ("Wanda Sports Group") (NASDAQ:WSG), a leading global sports events, media and marketing platform, today announced the pricing of its initial public offering of 23,800,000 American Depositary Shares ("ADSs"), every two ADSs representing three of its Class A Ordinary Shares, at a price to the public of US$8 per ADS. Wanda Sports Group has granted the underwriters an option to purchase up to an additional 3,570,000 ADSs to cover over-allotments. The total gross proceeds of the offering are expected to be approximately US$219 million if the underwriters choose to exercise their over-allotment option in full.
The ADSs have been approved for listing on the NASDAQ Global Select Market and are expected to begin trading today under the symbol "WSG." The offering is expected to close on July 30, 2019, subject to satisfaction of customary closing conditions.
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Haitong International Securities Company Limited, China International Capital Corporation Hong Kong Securities Limited, CLSA Limited and SG Americas Securities, LLC are acting as joint bookrunners of this offering.
A registration statement related to the securities being sold in this offering has been filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective. Copies of the registration statement can be accessed on the website of the SEC at www.sec.gov.
The offering is made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus related to the offering, when available, may be obtained by contacting:
Morgan Stanley & Co. LLC
180 Varick Street
New York, NY 10014
+1 917 606-8487
Deutsche Bank Securities Inc.
60 Wall Street
New York, NY 10005
+1 800 503-4611
Citigroup Global Markets Inc.
Broadridge, 1155 Long Island Avenue
Bays 4-9, Edgewood
New York, NY 11717
+1 800 831-9146
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Wanda Sports Group
Wanda Sports Group is a leading global sports events, media and marketing platform with a mission to unite people in sports and enable athletes and fans to live their passions and dreams. Through our businesses, including Infront and IRONMAN, we have significant intellectual property rights, long-term relationships and broad execution capabilities, enabling us to deliver unrivalled sports event experiences, creating access to engaging content and building inclusive communities. We offer a comprehensive array of events, marketing and media services through three primary segments: Mass Participation, Spectator Sports and Digital, Production, Sports Solutions (DPSS). Our full service platform creates value for our partners and clients as well as other stakeholders in the sports ecosystem, from rights owners, to brands and advertisers, and to fans and athletes.
Headquartered in Beijing, China, Wanda Sports Group has more than 60 offices and 1,600 employees around the world.
Cautionary Statement Regarding Forward-Looking Statements
Any statements made in this press release that do not relate strictly to historical or current facts are forward-looking statements that reflect our current plans, beliefs, expectations and current views with respect to future events. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from historical results or any future results, performance or achievements expressed, suggested or implied by the forward-looking statements. Certain of these risks and uncertainties are described in Wanda Sports Group's registration statement on Form F-1 filed with the SEC, including under the headings of "Risk Factors" and "Special Note Regarding Forward-Looking Statements" in the registration statement. Forward-looking statements made in this press release speak only as of the date of this press release, and we undertake no obligation to update them in light of new information or future events, except as required by law.
For more information, please contact:
Wanda Sports Group
Sard Verbinnen & Co
Asia - Ron Low and Yin Ai
US - Paul Scarpetta and Bob Rendine
Europe - Charlie Chichester
Source: Wanda Sports Group Company Limited
This article appears in: News Headlines
Referenced Stocks: WSG