Apollo-backed Athene to be valued up to $7.8 billion in IPO

November 30, 2016 by Sonali Basak

Athene Holding Ltd., the annuity provider tied to Apollo Global Management LLC, filed for a sale of 23.8 million shares at $38 to $42 apiece in one of the biggest initial public offerings this year in the U.S.

At the high end of that range, the IPO would raise $997.5 million for selling holders and value the Bermuda-based company at about $7.8 billion, with about 186 million shares outstanding, Athene said Monday in a regulatory filing.

Chief Executive Officer Jim Belardi has been expanding Athene in the U.S. and abroad after Apollo helped start the company in 2009. 

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Originally Posted at LifeHealthPro on November 29, 2016 by Sonali Basak.