Endeavor Group goes the distance in NYSE debut

摘要

After pulling its first IPO attempt 18 months ago, Ari Emanuel's endeavor croup scored a hard-fought victory by raising US$511m from its NYSE IPO. Morgan Stanley, Coldmon Sachs, JP Morgan and Deutsche Bank on Wednesday night placed 21.3m Endeavor shares at US$24.00, the top of the US$23-$24 range. After an up-and-down session on Thursday that saw the stock spend some time in the hole and trade as low as US$23.25, Endeavor managed a modest 5% day-one return by closing at US$25.20. Having already endured Endeavor CEO Emanuel's wrath over their 2019 failure, the banks left little to chance the second time around.