Grocery Retailer Albertsons Plans to Raise $1.3B in IPO

Albertsons on Thursday claimed it anticipated to increase up to $one.3 billion in its initial community supplying.

IPO Pricing

The grocery retailer is hoping to sell sixty five.eight million shares priced involving $18 and $20 for every share. Underwriters for the IPO will have an alternative to invest in an supplemental 9.87 million shares within thirty-days of the IPO.

Albertsons won’t be taking any net proceeds from the supplying, as all shares getting offered arrive from the popular stock of current stakeholders, such as billionaire Stephen Feinberg’s Cerberus Funds Administration.

JPMorgan Chase, Citigroup, Bank of America’s BofA Securities, and Goldman Sachs are the direct underwriters for the supplying.

The Idaho-centered enterprise experienced filed for the IPO with the United States Securities and Exchange Fee in March.

[Editor’s note: Albertsons claimed it is selection one or selection two in market share in most of the metropolitan marketplaces it serves. Product sales

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