In its initial public offering, the majority shareholder of the Ultimate Fighting Championship (UFC) is aiming for a valuation of US$10 billion ($12.9 billion).
Endeavor Group Holdings plans to sell an estimated 21.3 million shares in UFC for between US$23 and $24 per share, according to documents released by the company.
This will be the company’s second attempt at going public, following a failed attempt in 2019.
According to Business Insider Australia, Endeavor plans to trade on the New York Stock Exchange under the symbol “EDR” and will try to raise up to $1.3 billion (A$1.7 billion) from private investors such as New England Patriots owner Robert Kraft and Abu Dhabi investment firm Mubdala.
The events of 2020 reminded US power broker Ari Emanuel of the importance of “premium intellectual property,” according to Emanuel, who formed Endeavor – then a talent agency – in 1995 and expanded it to include industry, concerts, live events, and sports.
In the company’s prospectus, Mr Emanuel said, “We believe that being a public company will allow us to accelerate this mission and further the vision we set out in 1995 to create a company for where the world is going.” The UFC, Miss Universe Pageant, and the WME Talent Agency, which represents Dwayne “The Rock” Johnson and Mark Wahlberg, are among Endeavor’s current major holdings.
When the company attempted an assessment in 2019, there was little to no investor interest, and they were forced to cancel a $400 million ($518 million) share sale the day before it was scheduled to begin.
Endeavor purchased the UFC’s majority interest from casino moguls Frank and Lorenzo Fertitta for US$4 billion ($5.17 billion) in 2016.