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

Most recent

Browning has marred thousands of once-valuable autographed baseballs, with the precise cause of the damage still unknown. Dennis Tuttle examines the impact on the baseball collectibles market

Dead since 1995, the revered Hall of Famer still commands a lofty position among baseball memorabilia collectors

Callum McCarthy looks at the various ways in which lesser-known European host cities are benefiting from staging a variety of international esports competitions.

Adam Nelson reports on how the International Cricket Council revamped its broadcast coverage ahead of the 2019 Cricket World Cup, focusing on storytelling to attract new audiences and break digital engagement records