IPO

Apollo Residential shares down in market debut

AP News
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Posted: Jul 22, 2011 11:07 AM
Apollo Residential shares down in market debut

Shares of Apollo Residential Mortgage Inc. are sliding in their market debut.

The New York real estate finance company plans to invest in residential mortgage assets in the United States. It had priced its offering of 19 million shares at $20 apiece.

The stock opened Friday at $19, and traded as high as $19.10.

But by midmorning, it was down $1.23, or 6.1 percent, to $18.77 and had fallen as low as $18.12 earlier.

The stock is traded under the symbol "AMTG" on the New York Stock Exchange.