University of Phoenix Backers Seek $140 Million in IPO (Correct)

The private equity firms behind the owner of the University of Phoenix are seeking to raise as much as $140 million in an initial public offering.

Apollo Global Management Inc. and Vistria Group plan to offer a combined 4.25 million shares in the educational firm for $31 to $33 each, according to a filing Tuesday with the US Securities and Exchange Commission. At the top of that range, University of Phoenix’s owner would have a market value of $1.17 billion based on the outstanding shares listed in its filing.

AP VIII Queso Holdings LP, the entity which is currently registered ...