Investor Alert

New York Markets Close in:

April 29, 2021, 11:31 a.m. EDT

William Morris and UFC parent Endeavor's shares up 12% in trading debut

Shares of entertainment powerhouse Endeavor Group Holdings Inc. (NYS:EDR) rose 12% in their trading debut Thursday, after the company's initial public offering priced at $24 a share, the high end of its $23 to $24 range. The parent of William Morris, IGM and UFC sold 21.3 million shares to raise about $511 million at a valuation of more than $10 billion. It will raise an additional $1.8 billion from institutional investors to finance a full takeover of UFC. Shares were last up 8%. A previous effort to complete an initial public offering was canceled in October of 2019, following pushback from investors who were put off by its complicated finances at a time when other deals were flopping.

Link to MarketWatch's Slice.