Athene Holding Ltd. has announced the launch of an offering of 25 million class A common shares to be sold by certain shareholders.
The underwriters may also exercise an option to buy up to an additional 3,750,000 class A common shares from certain of the selling shareholders. Based on Athene's March 27 closing share price of $50.71 and assuming full exercise of the overallotment option, S&P Global Market Intelligence calculates a gross offering size of about $1.46 billion.
Athene will not receive any proceeds from the sale.
Goldman Sachs & Co., Barclays, Citigroup and Wells Fargo Securities are acting as joint book runners of the offering and representatives of the underwriters. Bank of America Merrill Lynch, BMO Capital Markets, Credit Suisse, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, RBC Capital Markets, Evercore ISI, Keefe Bruyette & Woods, Sandler O'Neill + Partners LP, SunTrust Robinson Humphrey and UBS Investment Bank are acting as book runners.