swissbased online betting service sportrader group ag on tuesday said it plans to offer 19 million shares at 25 to 28 per share in its upcoming initial public offering under the symbol srad on the nasdaq based on the midpoint of the range the company will raise about 504 million with about 11 billion class a and class b ordinary shares to be outstanding after the ipo sportradar will have a market capitalization of about 29 billion based on the midpoint of the ipo price rangethe company generated 261 million of net income and revenue of 478 million in 2020 sportradar is selling class a ordinary shares in the ipo following the ipo founder and ceo carsten koerl will be the only holder of class b shares and will hold about 82 of the voting power entities affiliated with eldridge and radcliff management llc agreed to buy 159 million of class a shares at the ipo price as part of the deal jp morgan morgan stanley citigroup and ubs investment bank are joint bookrunners on the ipo with several other banks also underwriting the offering