Apollo to invest $1.2 billion in QXO; shares rise

QXO

05/01/2026 15:17

Updates

** Shares of building products distributor QXO QXO.N rise nearly 10.2% to about $21.7 in early trading

** Apollo Global Management agrees to invest $1.2 billion to pursue acquisition opportunities through July 15 this year, QXO says

** QXO issues perpetual convertible preferred stock with 4.75% annual dividend, convertible into common shares at $23.25 per share

** Average of 16 analysts rate stock "buy" or higher, their median PT is $30 - data compiled by LSEG

** Including session's moves, shares up 3.3% YTD

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))