Momentive plans to raise up to $862.5m in its initial public offering, according to its regulatory filing. Apollo owns 89.5% of Momentive, with GE Capital Equity Investments, a subsidiary of General Electric, holding 8.9%.
US-listed industrial conglomerate General Electric is planning to float portfolio company Momentive Performance Materials, a chemical manufacturer majority-owned by buyout firm Apollo Management.
Momentive plans to raise up to $862.5m in its initial public offering, according to its regulatory filing. Apollo owns 89.5% of Momentive, with GE Capital Equity Investments, a subsidiary of General Electric, holding 8.9%.
