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William Morris and UFC parent Endeavor’s shares up 12% in trading debut

Shares of entertainment powerhouse Endeavor Group Holdings Inc.
EDR,
-0.88%

rose 12% in their trading debut Thursday, after the company’s initial public offering priced at $24 a share, the high end of its $23 to $24 range. The parent of William Morris, IGM and UFC sold 21.3 million shares to raise about $511 million at a valuation of more than $10 billion. It will raise an additional $1.8 billion from institutional investors to finance a full takeover of UFC. Shares were last up 8%. A previous effort to complete an initial public offering was canceled in October of 2019, following pushback from investors who were put off by its complicated finances at a time when other deals were flopping.

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