Sportradar Group (SRAD) said late Tuesday a secondary public offering of 23 million of its class A ordinary shares is being launched by affiliates of Canada Pension Plan Investment Board and Technology Crossover Ventures, as well as the company's Chief Executive Officer, Carsten Koerl.

The underwriters will have a 30-day option to buy up to an additional about 3.5 million shares from the selling shareholders.

The company said it will also repurchase 3 million shares from the underwriters for up to $75 million as part of its existing $200 million share repurchase program.