Finance History|11 Wall Street — Nineteen Dollars for an Upsized Buyout Book Called APO
· 2011-3
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Finance History|11 Wall Street — Nineteen Dollars for an Upsized Buyout Book Called APO
kevin
People treat Apollo as a Midtown alternative-asset manager that always printed APO on a mature Big Board book.
The first public print was a twenty-one-year-old private-equity partnership that had already sold a slice on Goldman Sachs's private GSTrUE book.
CNBC recorded that the offering priced on 29 March 2011 at 19.00 U.S. dollars, the top of a 17-to-19 dollar range.
Reuters recorded that the firm sold 21.5 million shares, about 19 percent more than planned, and that existing holders including Goldman Sachs sold nearly 8.3 million. The upsized sale raised 565.4 million U.S. dollars in 2011 currency.
Goldman Sachs, J.P. Morgan and Bank of America Merrill Lynch led the books.
Trading began on 30 March 2011 on the New York Stock Exchange under the letters APO. Reuters recorded a first-day close at 18.20 U.S. dollars, 4.2 percent below the 19.00 offer.
The New York Times DealBook recorded an open at 18.70 U.S. dollars.
None of the three founding partners sold stock in the offering.
The 2008 registration that the financial crisis stopped is a separate memory.
The pin is the public Broad Street viewpoint at the 1903 exchange building. The floor is not visitable.
The mechanism is a delayed partnership IPO that printed at the top of its range and still closed below the offer on the first session.
Photo: New York Stock Exchange, Broad Street facade, via the collection photograph already ingested for 11 Wall Street listings.
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