Markets

Food for thought: Albertsons Companies sets terms for $1.6 billion IPO

A generic image of money, charts and a laptop.
Credit: Shutterstock photo

Albertsons Companies, the second-largest grocer in the US operating Safeway and other brand chains, announced terms for its IPO on Friday.

The Boise, ID-based company plans to raise $1.6 billion by offering 65.3 million shares at a price range of $23 to $26. At the midpoint of the proposed range, Albertsons Companies would command a fully diluted market value of $11.9 billion.

Albertsons Companies, which was founded in 1926 and booked $57.9 billion in sales for the 12 months ended June 30, 2015, plans to list on the NYSE under the symbol ABS. Goldman Sachs, BofA Merrill Lynch, Citi and Morgan Stanley are the joint bookrunners on the deal.

The article Food for thought: Albertsons Companies sets terms for $1.6 billion IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More