Monday, 25 July 2016
Last updated 2 days 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.