Hong Kong (CNN Business) The Chinese company behind the Ironman triathlon is warming up for its Wall Street debut.

World Triathlon Corporation and the Swiss sports marketing firm Infront Sports & Media. Wanda Sports, a subsidiary of Chinese tycoon Wang Jianlin's Dalian Wanda Group , is scheduled to start trading on the Nasdaq stock exchange Friday. The firm owns Ironman organizerWorld Triathlon Corporation and the Swiss sports marketing firm Infront Sports & Media.

. It said in filings with the Securities and Exchange Commission this week that it will The company originally wanted to raise as much as $500 million for its initial public offering, but it has since tempered expectationsIt said in filings with the Securities and ExchangeCommission this week that it will issue 28 million shares for $9 to $11 each, which would allow it to raise up to $308 million.

The company wants to use the funds to pay down its debt and fund strategic investments, among other initiatives, according to its IPO prospectus.

Dalian Wanda Group acquired Infront Sports & Media in 2015 for $1.2 billion, and it bought World Triathlon Corp for $650 million later the same year. Wanda Sports was established in December 2015.

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