Private equity firm Apollo Management [APOLO.UL] plans to sell 26 million shares for $18 to $20 each in its initial public offering, two sources familiar with the situation said on Tuesday. At the midpoint of that range, the long-expected IPO would raise just under $500 million. The firm's management will not sell in the IPO, one of the sources said. The other source said about 69 percent of the shares sold in the IPO will be new shares.
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