Apollo's (APO) Realogy Holdings (RLGY) to Raise $1.08B in IPO
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Realogy Holdings (NYSE: RLGY) -- the Apollo Global Management (NYSE: APO)-controlled brokerage -- is expected to launch its IPO today, having recently cleared the offering with the U.S. SEC.
According to filings, the IPO will raise about $1.08 billion for the company. The Company is said to have sold 40 million shares at $27 each, after pricing the offering at $23 to $27 per share.
Following the IPO, Apollo will retain control of 50.2 percent of Realogy. Hedge fund man John Paulson will own a 10 percent stake via his Paulson & Co funds.
Following the IPO, Realogy will have an enterprise value of $7.77 billion, or 16 times EBITDA. Managers on the offering were JPMorgan Chase and Goldman Sachs.
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According to filings, the IPO will raise about $1.08 billion for the company. The Company is said to have sold 40 million shares at $27 each, after pricing the offering at $23 to $27 per share.
Following the IPO, Apollo will retain control of 50.2 percent of Realogy. Hedge fund man John Paulson will own a 10 percent stake via his Paulson & Co funds.
Following the IPO, Realogy will have an enterprise value of $7.77 billion, or 16 times EBITDA. Managers on the offering were JPMorgan Chase and Goldman Sachs.
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