Apollo will sell its 17 percent stake in Realogy

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Apollo Global Management LLC, the private equity firm that took Realogy private in 2007, will sell off the rest of its shares in the company — about 25 million all told — according to a prospectus Realogy filed with securities regulators today.

After an initial public offering last October, Realogy Holdings Corp. completed another public offering of 40.25 million shares of common stock on April 16, which left Apollo with a 17 percent ownership stake in the brokerage and franchise giant.

In announcing preliminary second-quarter results today, Realogy said its company-owned and affiliated brokerages saw a 21 percent jump in transaction volume (transaction sides times average sale price) from a year ago — considerably higher than previous guidance of 14 to 17 percent.

Realogy Chairman, CEO and President Richard Smith attributed the increase to “demand outstripping supply, moderately improved inventory levels and continued historically high affordability levels despite a rising mortgage rate environment.” Source: sec.gov.