Wednesday, 30 July 2014
Last updated 15 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…