Benzinga | Sep 14, 2021 07:08AM EDT

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

* Sports betting, products, and services provider Sportradar Group AG (NASDAQ: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 (euro)404.9 million.

* The burgeoning sports betting market has attracted the likes of Facebook Inc (NASDAQ:FB).

* The shares will begin trading on the Nasdaq under the ticker symbol "SRAD" today.