Athene shareholders reduce stake in secondary sale

Existing shareholders in Bermuda life insurer Athene Holding are to
sell at least $1.27bn-worth of stock less than four months after
private equity owner Apollo began its retreat through a New York
IPO.
Athene said shareholders will hold a secondary offer for 25
million Class A shares, with another 3.75 million of shares
available to the underwriters in the case of strong investor
demand.
Based on Monday's closing price for Athene in New York of
$50.71 the "base" offer would...