Apollo Expected To Price This Week

The IPO of Apollo Global Management is back on track.

Apollo revealed March 21 it is planning to raise about $473 million by offering roughly 26.3 million class A shares at $17 to $19 each. Apollo itself is selling 18 million shares while certain shareholders are offering about 8.3 million shares. Joint bookrunners on the deal include Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank Securities and UBS Investment Bank. Underwriters on the deal have an option to buy another 3.9 million shares, according to a statement.

The IPO is expected to price this week, either Tuesday or Wednesday, two sources told sister Web site peHUB.

The New York buyout firm said it plans to use the net proceeds it receives from the IPO on “general corporate purposes and to fund growth initiatives.” However, none of Apollo’s management, employees, affiliates or strategic investors are offering shares in the offering, a statement said. Apollo plans to trade on the NYSE under the ticker “APO.”

Earlier this month global turmoil from Japan’s earthquake appeared to derail the IPO. Apollo reportedly decided to delay the offering until stock market calmed down, according to sister news service Reuters.

Once it does go public, Apollo will join rivals the The Blackstone Group and Kohlberg Kravis & Roberts as a publicly traded PE firm.

Officials for Apollo declined comment.