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CAA Owner TPG Raises $1B By Pricing IPO At $29.50 A Share – Reports

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TPG, owner of CAA and 30% stakeholder in DirecTV, is on course to raise $1 billion when its stock begins trading Thursday on the Nasdaq at $29.50.The pricing of the initial public offering, reported by The Wall Street Journal and other financial media outlets, values the firm at $9 billion.

The company filed last month for the offering. The pricing wound up in the middle of the range TPG had specified last week.Many recent IPOs have achieved less-than-stellar results.

Almost three-quarters of the 400 or so stocks of companies going public in 2021 are below their initial trading prices. That outcome has put a bit of a damper on what had been a sizzling IPO market.In the agency realm, Endeavor Group Holdings (which owns WME along with the UFC and a number of other assets across digital media, sports and entertainment) went public last April.

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