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Shapiro: Endeavor IPO will provide flexibility, cut debt and accelerate growth plans

Endeavor executives at public listing at New York Stock Exchange on April 29, 2021

Endeavor’s initial public offering will generate funds to provide “flexibility” over how the business is run, pay down debt and enable further acquisitions, according to Mark Shapiro, president at the sports and entertainment group, who told SportBusiness that both Endeavor and its IMG agency will, in time, “be profitable by every metric”.

Shares in Endeavor began trading on the New York Stock Exchange yesterday (Thursday) and closed the day at $25.20 (€20.83), up five per cent on the pricing of the 21.3 million shares placed as part of the IPO.

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