Endeavor And UFC Raises US$511 Million In IPO
ndeavor Group Holdings, the parent company of the Ultimate Fighting Championship (UFC), has raised up to US$511 million (AUD$662 million) after announcing it went public on the 29th of April.
Endeavor sold 21.3 million shares and its highest price was US$28.47, with the shares averaging between US$23 (AUD$29) to US$24 (AUD$31) per share and Endeavor made its projected target of US$511 million.
The shares closed at US$25.20 (AUD$32.67).
The initial public offering (IPO) was announced by UFC president, Dana White, on social media platforms.
In 2019, White expressed concerns with the UFC being a public company in an interview with 8 Las Vegas.
“I’ve never been a fan of the UFC going public,” White said.
“Can you picture me running a public company?
“No, I can’t either,” he said.
Endeavor purchased the UFC in 2016 for US$4 billion (AUD$5.1 billion), the largest acquisition in sport history.