Wolves could be floated on stock exchange in 'next two to five years'
Chairman Jeff Shi has revealed plans for Wolves to eventually be listed on the stock exchange alongside Fosun’s other sport-related assets.
Fosun Sports Group, the holding entity which controls the club together with companies involved in esports and music, would be floated within the next five years in order to further boost investment.
In November, Fosun Sports sold a minority share of its business to US technology firm Peak6 and Shi, who is chairman of both the club and holding company, confirmed they are on the lookout for more investors to come on board.
He added: “I think we are not only looking at investment to the club, we are also looking at maybe the future IPO (initial public offering) for Fosun Sports Group.
“If we want to do some initial public offering, I think we need more investors to join. Eventually if you are in the public, in the market, you have maybe more than 10,000 investors around the world, so I think eventually the shareholding will be more diversified.”
Shi stressed the importance of further building the Wolves brand before any IPO might be made but he added: “It will happen. I’m confident, but I think maybe to be there we still need maybe two or three more steps.
“We need more revenue size, more market share maybe to have a better IPO. I think the IPO itself is about the money, about the financing, about the funding to do something better, but also it’s about a very good chance to do some branding, just to tell the world and welcome the investors to come to join us. So it’s very important to pick a good moment, a better moment, and to have a strong commercial or business readiness, so I’m not in a hurry to do that, but I foresee it in maybe the next two or three or five years.”
In a wide-ranging interview, Shi explained how the policy of growing revenue streams outside of the club – including last year’s launch of a record label – could help ease spending limits with regard to the Premier League’s profit and sustainability rules.
But when asked about plans for the summer transfer window, Shi hinted at a pragmatic approach, with Wolves willing to spend big only if there was a long-term benefit in doing so.
He said: “For me the task is not about only one season, it’s about how to make sure Wolves can have a strong capacity and ability to stay competitive always for a long time.”
