IPO FILING: Apollo Global Management, Semi-Public to Fully Public

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Apollo Global Management, LLC, appears to be planning to become fully public as it submitted an S-1 filing with the SEC.   The company is currently semi-public on the Goldman Sachs GSTruE over-the-counter private market with an initial offering of $24 per share that has since fallen to $14 per share.

The current shareholders are offering 29.8 million shares at a maximum proposed share price of $14 (current price) per Class A share to be traded on the New York Stock Exchange. As the current holders are selling the shares, Apollo will not receive any proceeds from the offering that could total a maximum of $417.5 million.

No exchange or OTC market exists for Apollo’s Class A shares, although Class A shares issued to qualified institutional buyers in the August 2007 exempt sale are traded through the Goldman Sachs private over-the-counter market for Tradable Unregistered Equity Securities (the “GSTrUESM OTC market) are noted under the symbol “APOLLZ.”

Apollo Global Management manages private equity, distressed asset, and mezzanine investments globally that total approximately $40.3 Billion according to its own data. The company is managed by Leon Black, Joshua Harris, and Marc Rowan and operates two business, private-equity and credit-oriented capital market investments.

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Rachel Lopez
April 9, 2008