Tuesday, 13 October 2015
Last updated 6 hours ago
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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…