UPDATE 1-Affinion files for $400 mln IPO

* Files to raise up to $400 mln

* Proceeds to mainly repay debt

May 21 (BestGrowthStock) – Affinion Group Holdings Inc filed for an
initial public offering for up to $400 million on Friday,
according to a regulatory filing with the U.S. Securities and
Exchange Commission.

The Stamford, Connecticut-based company, which helps firms
market their products, posted net revenue of $1.38 billion in
2009, down 2.3 percent from $1.41 billion a year earlier. It
posted a net loss of 66.4 million, which was narrower than the
year-ago period.

The company said it would use proceeds from the offering
mainly to repay debt. It did not say how many shares it plans
to sell or provide an expected price range.

The company is owned by funds controlled by private equity
firm Apollo Global Management [APOLO.UL].
Stock Market Advice

(Reporting by Supantha Mukherjee in Bangalore; Editing by
Jarshad Kakkrakandy)

UPDATE 1-Affinion files for $400 mln IPO