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    TSLA   US88160R1014


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UFC-owner Endeavor makes punchy market debut with $11.6 bln valuation

04/29/2021 | 11:38am EDT

April 29 (Reuters) - Endeavor Group Holdings Inc's second shot at going public turned out to be relatively successful after the owner of the Ultimate Fighting Championship (UFC) was valued at $11.6 billion on its first day of trading.

Shares of the Beverly Hills, California-based company opened at $27 on the New York Stock Exchange, 12.5% above the offer price of $24.

Endeavor had abandoned its plans of floating its shares just a day before it was supposed to debut in 2019 as its initial public offering was met with tepid demand.

The company's listing comes in the middle of a raging bull run in the U.S. capital markets, where a number of richly valued startups like cryptocurrency exchange Coinbase Global and South Korea's Amazon equivalent Coupang have gone public amid a strong investor reception.

Other high-profile names that include Robinhood, Amazon-backed electric vehicle startup Rivian and Microsoft-backed Databricks are gearing up for a listing later this year.

Endeavor, which recently named Tesla Inc chief Elon Musk to its board, caters to a star-studded client base, including Dwayne "The Rock" Johnson, Mark Wahlberg, Serena Williams and Maria Sharapova, through its talent agency, WME.

It has also financed movies including "La La Land" and "Just Mercy".

Endeavor was founded in 1995 by Hollywood power broker Ari Emanuel, reportedly after being inspired by economist George Gilder's book "Life After Television", which predicted a disruption in the media industry.

Earlier this year, Endeavor disclosed plans to buy the remaining 49.9% stake in UFC from private-equity firms KKR and Silver Lake. It bought the controlling stake from casino moguls Frank and Lorenzo Fertitta in 2016.

The company raised $511 million on Wednesday after its IPO was priced at the top end of the range.

Morgan Stanley, Goldman Sachs, J.P. Morgan and Deutsche Bank Securities are the lead underwriters of the offering. (Reporting by Niket Nishant in Bengaluru; Editing by Anil D'Silva)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COINBASE GLOBAL, INC. -0.06% 222.47 Delayed Quote.0.00%
SILVER -0.64% 25.7604 Delayed Quote.-1.69%
TESLA, INC. 0.46% 623.71 Delayed Quote.-12.02%
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Financials (USD)
Sales 2021 49 399 M - -
Net income 2021 3 417 M - -
Net cash 2021 8 892 M - -
P/E ratio 2021 199x
Yield 2021 -
Capitalization 598 B 598 B -
EV / Sales 2021 11,9x
EV / Sales 2022 8,75x
Nbr of Employees 70 757
Free-Float 80,4%
Duration : Period :
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Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 35
Last Close Price 620,83 $
Average target price 654,03 $
Spread / Average Target 5,35%
EPS Revisions
Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
Antonio J. Gracias Independent Director
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