Endeavor has made its entrance on Wall Street; Investor’s appetite to be tested

Endeavor Group Holdings went public on Thursday as the company got listed at New York Stock Exchange under the ticker symbol EDR. Surrounded by Endeavor staffers, CEO Ari Emanuel rang its ceremonial bell to kick off the trading day. IPO is set at $24 with the aim of raising $511 million to more than $550 million.

Endeavor’s debut can demonstrate the investor’s appetite for an independent content-driven and event-driven conglomerate, which still has much potential to grow. While its debt stands at $5.9 billion, the company in 2020 suffered a loss of $625 million.

The company which is home to UFC, WME, and IMG, is in the process of raising about $1.7 billion to buy out the remaining 49% stake in UFC. It has told Wall Street that it is in banking on the power of its relationship with talent and content creators to drive business across its different units, which are largely focused on content and live events.

Endeavor has marked as the first parent company of the major Hollywood talent agency since the 1980s to have been publicly traded. During the 1980s, ICM traded as a part of then-owner Marvin Josephson’s larger business portfolio. The company went private again in 1988.

The company’s chairman Patrick Whitesell, president Mark Schapiro, UFC Boss Dana White, WME TV chief Rick Rosen, and its communication chief Christian Muirhead, were to name a few among those who joined its CEO in the ringing bell session