Blackstone-backed Encore discloses revenue rise in US IPO
The event management firm reported $3.4 billion in revenue while preparing for its NYSE listing. Funds will go toward debt repayment and corporate purposes.
Encore, an event management company backed by private equity giant BLACKSTONE INC, has officially filed for an initial public offering in the United States. The Schiller Park, Illinois-based firm revealed a significant narrowing of its annual losses alongside a rise in revenue as it prepares to list on the New York Stock Exchange under the symbol ECR.
For the fiscal year ending December 31, the company reported a net loss of $27.2 million on revenue of $3.4 billion. This performance represents a notable improvement from the previous year, when the company saw a net loss of $176.1 million on revenue of $3.2 billion. The move comes as the IPO market shows signs of resilience, with several issuers moving forward despite broader geopolitical volatility and market fluctuations.
