Apollo Goes Big with IPO

Apollo Global Management priced its IPO at $19 per share, the high end of its expected range, after increasing the offering size to include about 29.8 million shares. The price put the total offering value at $565 million. The firm sold 21.5 million of the shares, raising about $408.5 million, part of which will be used for general corporate purposes and to fund growth initiatives. The remaining shares were sold by certain stockholders. Apollo begins trading on the NYSE under the ticker symbol APO today.