Affinion Group Holdings (NYSE:AFI) revealed its intentions to go public next month in an amended S-1 filing with the SEC today. The marketing firm, owned by Apollo Management, is expected to raise $520 million at the $16 midpoint of its expected price range and would reward the private equity firm with a handsome 336% realized gain on its investment.

What does the company do? According to the prospectus, "We are a leading global provider of comprehensive marketing services and loyalty programs to many of the largest and most respected companies in the world. We partner with these leading companies to develop customized marketing programs that provide valuable products and services to their end customers using our creative design and product development capabilities."

The IPO is expected to price on October 9th and begin trading on the next day on the NYSE with the symbol AFI. The IPO will place its market cap at around $1.5 billion with 92.2 million shares outstanding. The company also plans to pay a dividend of 64 cents per share for 12 months following the IPO.

In the end, this IPO may be one worth watching given the success that many have seen in the sector and given the fact that it is backed by a successful private equity firm that has helped build it into a formidable company during the past two years. The IPO also underscores the continued success experienced by private equity groups incubating private companies.

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