Albertsons files for IPO
Albertsons files for IPO
Albertsons has filed a registration statement with the Securities & Exchange Commission for a proposed initial public offering of shares of its common stock. The company said it plans to raise $100 million in the IPO; however, The Wall Street Journal suggested that the number is likely to change.
At this point the company said the number of shares to be offered and the price range for the proposed offering have not yet been determined.
According to the WSJ article, Albertsons plans to grow through the addition of new stores and potential acquisitions.
Earlier this year Albertsons completed its merger with Safeway, creating a diversified network that includes 2,230 stores, 27 distribution facilities and 19 manufacturing plants with over 250,000 employees across 34 states and the District of Columbia.
Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup and Morgan Stanley are acting as joint book-running managers, and Lazard is acting as a co-manager and IPO advisor for the proposed offering.