Categories Analysis, Other Industries, U.S. Markets News
Ironman Triathlon organizer Wanda eyes $500 million US IPO
Dalian Wanda Group, a Chinese multinational conglomerate with businesses ranging from property development to cinemas, has confidentially filed for the IPO of its sports unit, Reuters reported citing unidentified sources.
The company’s sports unit includes World Triathlon Corp, which conducts and promotes the reputed Ironman Triathlon sporting events. The Ironman Triathlon is widely considered one of the toughest single-day sporting events across the globe.
According to the filing made with the Securities and Exchange Commission (SEC), the company plans to raise anywhere between $300 million and $500 million through the public listing, which is expected to happen in the first six months of this year, the source said.
The company is yet to give an official statement on the same.
Dalian Wanda Group is one of China’s largest business establishments and is headed by Wang Jianlin, who constantly features in the country’s list of richest businessmen. The company is headquartered in Beijing.
The source added that Morgan Stanley, Deutsche Group and Citigroup are working on the IPO filing, though none of the banks were available to comment on it.
Chinese companies have been actively taking up US IPOs despite the trade tensions emerging between the two nations. According to data from Refinitiv, Chinese firms raised a total of over $9 billion from US listings last year.
Last month, the music streaming arm of Tencent Holdings, Tencent Music Entertainment (TME), debuted on the New York Stock Exchange. The company raised about $1.1 billion in its IPO, making it the fourth largest Chinese IPO in 2018.
We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips
Most Popular
NKE Q2 Earnings Preview: Can Nike maintain the recovery momentum?
Sneaker giant NIKE, Inc. (NYSE: NKE) entered the fiscal year facing heightened competition and shifting consumer preferences. Its upcoming second-quarter results are expected to reflect these evolving industry dynamics and
Earnings Preview: Conagra Brands’ (CAG) sales and earnings projected to decline in Q2 2026
Shares of Conagra Brands, Inc. (NYSE: CAG) rose 1% on Friday. The stock has dropped 7% in the past three months. The branded food company is slated to report its
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
Comments