Entertainment group Endeavor seeks to raise $619 in IPO

CA-based media and events company, Endeavor Group Holdings Inc., shortly dubbed Endeavor with offices in Beverly Hills, California, had issued a public statement later on Monday (September 16th) saying that the entertainment, sports and talent agency company had been exploring an option to raise as many as $619 million in its slated initial public offering which would lift its market valuation to as little as $7.8 billion. Aside from that, the company said in a regulatory filing on Monday (September 16th) that the California based media and events company had been working out a plan to offer as much as 19.4 million Class A stocks, which would likely to be priced between $30 to $32 per share. More critically, the company had also added on Monday (September 16th) that the Initial Public Offering would be forged ahead in a bid to raise funds to repay its $500 million worth of long-term borrowings, while the company had expressed its intents to capitalize rest of the funds for potential takeovers alongside other complementary businesses.