RE: Countdown26 Apr 2021 15:05
Endeavor, the entertainment group founded by Hollywood power broker Ari Emanuel, is aiming for a valuation of more than $10bn in an upcoming initial public offering, well above the $8bn valuation it sought in an abortive attempt at a flotation in 2019
Endeavor is hoping to raise as much as $1.8bn in the IPO and a simultaneous private placement of shares. It said on Tuesday it would raise $1.3bn from private investors including Abu Dhabi’s Mubadala and Robert Kraft, the owner of the New England Patriots, with the remaining $500m coming from stock market investors.
Among the other backers of the private transaction are wealthy individuals such as the computer entrepreneur Michael Dell, hedge funds including Third Point and Elliott Management, and the venture capital firm Silver Lake, which has been among Endeavor’s biggest backers since 2012.