Sports Betting Firm Sportradar Prices IPO At $27/Share, Starts Trading From Today

Sports betting, products, and services provider Sportradar Group AG SRAD priced 19 million shares at $27 per share to raise $513 million in its initial public offering.
The Switzerland-based company had expected to price the IPO at $25-$28 per share.
In addition, Carsten Koerl, Sportradar's founder and CEO, has granted the underwriters a 30-day option to buy additional shares up to 2.85 million.
For the year ended December 31, 2020, the company reported revenue of €404.9 million.
The burgeoning sports betting market has attracted the likes of Facebook Inc FB.
The shares will begin trading on the Nasdaq under the ticker symbol "SRAD" today.

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