Lincoln Zhang, Chairman of Wanda Sports Group, the sport-related business unit of Chinese conglomerate Wanda Group, stands with executives, employees and athletes during the opening bell ceremony of the company's IPO trading under the symbol (WSG) at the Nasdaq Market site in New York, U.S., July 26, 2019. REUTERS/Shannon Stapleton
HONG KONG/NEW YORK (Reuters) - Wanda Sports Group, a sport events owner whose interests include the distribution of media rights in Asia for the FIFA World Cup, said on Friday it priced a smaller-than-expected U.S. initial public offering (IPO) below its targeted range to raise $190.4 million (£153.07 million).
The Beijing-based company, a unit of Chinese conglomerate Dalian Wanda Group, sold about 23.8 million American depositary shares (ADS) at $8 each, compared with a previously stated target of selling 28 million ADS between $9 to $11.
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