ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Companies

Wanda Sports snubbed by Wall Street after downsized IPO

US investors unconvinced on conglomerate's ambitious pivot

Wanda Sports closed 36% lower than its initial offering price after a downsized listing.   © Reuters

NEW YORK -- Wanda Sports Group missed the kick in its Wall Street debut Friday, closing at $5.16 per American depositary share -- below its initial public offering price of $8.

The Nasdaq-listed unit of Chinese conglomerate Dalian Wanda Group raised just $190 million in its IPO, selling fewer shares at a lower price than previously sought, after having already downsized the listing from its original $500 million target.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more