Wanda to list sports unit in US ahead of Beijing Olympics

Conglomerate focuses on 'asset-light' business after years of ballooning debt

20190608 Wanda Metropolitano Stadium

Nearly all of Wanda Sports' revenue comes from outside China, but the unit intends to enlarge its domestic footprint. © Getty Images

ALEX FANG, Nikkei staff writer

NEW YORK -- Chinese conglomerate Dalian Wanda Group has filed to list its sports media and events unit on Nasdaq, with an eye on the 2022 Beijing Winter Olympics and a growing sports fan base at home.

Wanda Sports Group's initial public offering will raise up to $500 million, according to a preliminary prospectus filed Friday with the U.S. Securities and Exchange Commission.

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