Apollo Residential Mortgage Prices IPO at $20 a Share

Apollo Residential Mortgage, a specialty finance company controlled by buyout shop Apollo Global Management, priced its initial public offering Thursday at $20 per share, Reuters reported. Apollo Residential sold 10 million shares in the offering, raising $200 million, Reuters wrote. Morgan Stanley, Credit Suisse and J.P Morgan were the underwriters on the offering.

(Reuters) – Specialty finance company Apollo Residential Mortgage Inc (AMTG.N) priced its initial public offering at $20 a share on Thursday, in-line with its expectations, an underwriter told Reuters.

Apollo Residential, whose sole and principal stock holder is Apollo Principal Holdings I, which in turn is controlled by Apollo Global Management (APO.N), sold 10 million shares in the offering, raising $200 million.

Morgan Stanley, Credit Suisse and J.P Morgan were the underwriters on the offering.

The company plans to list on the New York Stock Exchange under the symbol “AMTG” (Reporting by Himank Sharma in Bangalore, Editing by Anthony Kurian)