Phoenix Education Partners, supported by Apollo, submits application for US IPO
Phoenix Education Partners IPO Filing
Company Overview: Phoenix Education Partners, based in Phoenix, Arizona, has filed for an initial public offering (IPO) in the United States, marking a significant move as the IPO market begins to recover from its seasonal lull in August.
Financial Performance: For the nine months ending May 31, the company reported a net income of $118 million on revenues of $750 million, showing growth from the previous year’s net income of $105 million on $710 million in revenue.
Business Operations
Educational Offerings: The company, which operates through its subsidiary University of Phoenix, provides online educational programs aimed at working adults. It offers 72 degree programs and 33 certificate programs across various disciplines.
Historical Context: Founded in 1976, Phoenix Education is one of the largest online education providers in the U.S. Its predecessor, Apollo Education Group, was taken private in 2017 in a $1.1 billion deal involving Apollo Global Management and Vistria Group.
Market Context and Underwriters
IPO Market Trends: The filing comes as several large corporate issuers prepare for potential IPOs this fall, indicating a revitalization of the new listings market.
Underwriters: The IPO will be underwritten by major financial institutions including Morgan Stanley, Goldman Sachs, BMO Capital Markets, and Jefferies. The company plans to list on the New York Stock Exchange under the ticker symbol "PXED".
Recent Developments
- Related Market Activity: This IPO filing follows the successful flotation of Apollo portfolio company Aspen Insurance, which is now set to be acquired by Japan's Sompo.
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- Capital Support Advantage: Aspida Re benefits from capital support and an enterprise risk management framework provided by its parent company, ensuring the stability of its long-term risk-adjusted capitalization levels.
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Current Trading Status: On Tuesday, AHL.PRE shares are down approximately 0.1%, while the common shares (AHL) have increased by about 0.1%.
Investment Insights: There is a link provided to view the 50 highest yielding preferred stocks.
Author's Disclaimer: The opinions expressed in the article are those of the author and do not necessarily represent the views of Nasdaq, Inc.
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Surge in Insurance IPOs: Insurance companies have seen a significant increase in initial public offerings (IPOs) this year, reaching a 20-year high, as investors seek stability amid economic volatility caused by trade wars and inflation.
Strong Performance and Investor Interest: U.S.-listed insurance IPOs have collectively raised $2.64 billion, with companies like American Integrity and Aspen Insurance performing well post-debut, indicating strong investor interest in the sector.
Future Outlook for Insurance IPOs: Despite concerns over pricing pressures and claims, the insurance industry is expected to continue attracting investors, with a pipeline of companies ready to go public, particularly those backed by private equity firms.
Impact of Government Shutdown: The recent U.S. government shutdown has caused delays in the IPO process, which may affect the number of listings in 2025, pushing momentum into the first half of 2026.
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Market Context and Demand: The IPO comes amid a resurgence in U.S. IPO activity, particularly in the insurance sector, driven by increasing demand for flood insurance due to climate change, as well as easing concerns over trade policies.
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Construction Timeline: The modern spec house was completed in March and went into contract in August.
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