Apollo-backed Mexican airline raised about $223 million in long-awaited US IPO.

The Mexican airline group supported by Apollo raised about $223 million in its long-awaited U.S. initial public offering on Wednesday, laying the groundwork for the Mexican airline to return to the public market after nearly four years in bankruptcy. Mexico's airline and some existing shareholders sold 11.7 million American depositary shares at a price of $19 per share, within a market range of $18 to $20. The IPO valuation of the Mexican airline is $2.77 billion and it will begin trading on the New York Stock Exchange on Thursday under the ticker symbol "AERO".