UFC fans get excited, LRS is the Aussie stock to watch and … the big US names report
Ultimate Fighting Championship fans now have the opportunity to invest in the company that owns their favourite sport.
Endeavor Group Holdings Inc, the owner of the Ultimate Fighting Championship (UFC) raised US$511M (AU$656) in an initial public offering (IPO) at the high end of the target range.
It listed on the NYSE on Thursday under the ticker EDR.
Endeavor priced 21.3 million shares at $24 per share, with the IPO valuing the company at US10.3BN.
That kind of money could fund a lot of fights.
Endeavor first endeavoured to list in 2019, but withdrew due to poor investor demand.
However, it seems as the popularity of the sport increased, so too did investor interest.
Even Tesla CEO Elon Musk is joining the Board of Directors ) perhaps he can invent Tesla Transformers to face off in the cage.
Endeavor is run by Hollywood power broker Ari Emanuel, whose talent agency WME counts celebrities such as Dwayne “The Rock” Johnson, Mark Wahlberg, Serena Williams and Maria Sharapova among its top-tier clients.
It has financed movies including La La Land and Just Mercy and now plans to make a run for full of ownership of UFC. Endeavour will seek to acquire the remaining 49.9% stake from private-equity firms KKR and Silver Lake.
Can someone smell what The Rock is cooking?
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