Apollo Delays IPO

Mar 17 2011 | 2:01pm ET

Apollo Global Management has postponed its initial public offering in the face of volatile markets.

The $67 billion private equity firm said last year that it would seek to raise $500 million in a New York Stock Exchange listing. The firm had been poised to update its IPO registration filing with more detailed terms, Reuters reports, including word that nearly 70% of the shares sold in the offering will be newly-created.

Apollo had raised $828 million four years ago in a private offering.

Moving forward with the IPO is a "day-to-day" decision, sources told Reuters.

Apollo's move to hold off on the IPO may be a response to the Japanese earthquake and nuclear crisis, which has roiled world markets and sent U.S. stocks into a tailspin.


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