Apollo Global Management announced that it intends to conduct an initial public offering to raise approximately $50 million through the sale of its Class A shares.
Apollo Global Management (“Apollo”) announced that it intends to conduct an initial public offering to raise approximately $50 million through the sale of its Class A shares. The firm plans to list the shares on the New York Stock Exchange. The offering will be made by Apollo and certain selling shareholders. Apollo’s management employees, affiliates, and strategic investors will not be selling shares. The proceeds will be used for growth initiatives and general corporate purposes.
Apollo’s registration statement was originally filed in 2007, when the company sold 35.6 million shares to investors in a private offering. The amended registration statement includes a preliminary “shelf” prospectus that may be used by the private investors to resell Class A shares on a registered basis.
As of December 31, 2009, Apollo had over $53 billion in assets under management, in private equity, credit-oriented capital markets and real estate.
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