HomeNewsBusinessAll SportsChina

Suning Sports to seek series B funding later this year, and list within three years

Chinese conglomerate Suning will seek series B funding later this year, and is targeting to list on a stock market in the next two to three years.

Wang Dong, the executive vice-president of Suning Sports Group, said that the financing will be used for the acquisition of media rights, marketing, content production, and retail development, according to sports.cn.

The group raised $600m (€534m) last year after series A funding from firms including Chinese internet giant Alibaba and investment bank Goldman Sachs, which gave Suning a valuation of $2.6bn (€2.35bn).

Suning’s sports assets include Italian football club Inter Milan, Chinese football club Jiangsu Suning, streaming platform PPTV, and a chain of sports goods shops.

Related: Suning promises increased investment in sport as it launches Premier League partnership

Related: Alibaba and Suning planning sports joint-venture