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Ares Management backer is selling shares

Mar. 01, 2017 4:26 PM ETAres Management Corporation (ARES) StockBy: Stephen Alpher, SA News Editor
  • Ares Management (NYSE:ARES) launches a secondary offering of about 7.5M shares being sold by Aub Dhabi. The shares are being offered at $19.50-$20.50 each, according to Bloomberg. Ares closed today at $22.
  • The underwriters will get a greenshoe option for up to about another 1.125M shares.
  • Ares will receive no proceeds from the sale.

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