Food retailer Smart & Final Stores Inc said it expects its initial public offering to be priced between $12 and $14 per share, valuing the century-old company at nearly $1 billion.Smart & Final, which is backed by private equity firm Ares Management LP, runs 250 non-membership, small-box, warehouse-style stores in western United States.At the top end of the expected price range, the IPO is likely to raise about $188 million and value the company at $995 million. (1.usa.gov/YzteJX)The food retailer, founded by J.S. Smart and H.D. Final, was bought by Ares Management from Apollo Global Management LLC in 2012 for $975 million.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO traded higher by 0.51% or $0.12/share to $23.66. In the past year, the shares have traded as low as $23.08 and as high as $36.51. On average, 1225270 shares of APO exchange hands on a given day and today's volume is recorded at 1191170.
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