Apollo to list on NYSE

The IPO market resurgence and financial market strength in general has been a big boon for private equity companies in more ways than one. Clearly, it allows for much better portfolio exit opportunities. But it also allows some firm to revive plans to list shares on a major stock exchange.

The Financial Times reports that Apollo Management, headed by former Drexel Burnham Lambert executive Leon Black, is aiming to list on the New York Stock Exchange in the next few weeks. It's registration statement is expected as early as this week, the paper says. Black wrote to investors: "With the improvement in the credit markets and the performance of the underlying companies, these portfolios [of Apollo-owned companies] have experienced significant increases in value and through September are already at or above cost." 

It's unclear if Kohlberg, Kravis & Roberts will accelerate its plans to finally list on the Big Board. Many assume that other companies are pondering a similar move.

For more:
- here's the article

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