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BREAKING NEWS FROM CNBC'S KATE KELLY: APOLLO KICKS OFF IPO ROAD SHOW, LOWERS PRICE RANGE

When: Today, Monday, March 21st at 11:25AM ET

Where: CNBC's "The Call"

Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. Here is a link to Kelly's story on CNBC.com http://www.cnbc.com/id/42194226. All references must be sourced to CNBC.

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KATE KELLY: I JUST WANT TO GIVE EVERYBODY AN UPDATE ON APOLLO GLOBAL MANAGEMENT. WE HAVE BEEN TRACKING THEIR IPO TIMEFRAME WHICH WAS PUT OFF BECAUSE OF THE MARKET VOLATILITY LAST WEEK AND IT IS ON TODAY. THEY LAUNCHED THEIR ROAD SHOW WITHIN THE HOUR WITH A MEETING AT JP MORGAN THAT WILL BE THEIR FIRST AROUND NOON. THE OTHER THING TO NOTE AND THIS ACCORDING TO A FILING THAT THEY PUT OUT THIS MORNING THEIR PRICE RANGE HAS GOTTEN SLIGHTLY LOWER FROM WHERE IT WAS PLANNED TO BE LAST WEEK. IT IS GOING TO BE 17-19 DOLLARS PER SHARE DOWN FROM 18-20 DOLLARS PER SHARE. NOT A HUGE MOVE BUT I'M TOLD THAT IS A NOD TO THE MARKET VOLATILITY AND A LITTLE BIT OF INSURANCE BASED ON THE FACT THAT THEY ARE IN SOMEWHAT OF UNCHARTED WATERS WHEN IT COMES TO THE MARKET. SO THEY ARE SET TO RAISE ABOUT 473 MILLION MELISSA AND I AM TOLD IT WILL BE A ROUGHLY TEN-DAY ROAD SHOW SO WE SHOULD EXPECT TO SEE A PRICING EVENT MIDDLE OR END OF NEXT WEEK.

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