Aeromexico Investors Said to Seek Up to $500 Million in US IPO

Apollo Global Management Inc. and other investors are seeking to raise as much as $500 million in an initial public offering of Grupo Aeromexico SAB, the Mexican carrier that emerged from bankruptcy protection more than two years ago, according to people familiar with the matter.

The alternative asset manager, which owns about 22% of Aeromexico, and other selling shareholders are aiming to raise about $400 million to $500 million in the Mexico City-based carrier’s listing, said the people, who asked not to be identified discussing confidential information.

The timing for launching the IPO remains unclear amid the volatility across ...