Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, April 9, 2008

Apollo Management Files IPO

Private equity firm Apollo Management has filed an IPO with the SEC, according to the Wall St. Journal (although I couldn't find the filing on EDGAR this morning).  The offering is valued at about $418 million.   If the deal is successful, the main owners, including Leon Black, will make a lot of money and also maintain control, since they plan to seek a "controlled corporation" exception from the NYSE listing requirement of a majority of independent directors.  Mr. Black made his reputation selling junk bonds at Drexel Burnham.  WSJ, IPO for Apollo Management.

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