Private equity firm Apollo Management [APOLO.UL] is expected to price shares in its initial public offering at $18 to $20 each and sell 26 million shares, according to a CNBC report on Tuesday. At the midpoint of that range, the long-expected IPO would raise $494 million. Apollo is expected to set terms for the IPO on Tuesday, sources familiar with the situation told Reuters on Monday. [ID:nN14266947] Most of the shares sold in the IPO will be new shares, the sources said. The firm's management would not sell stakes in the IPO, one of the sources said.
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