Renewable Energy

PetSmart's Chewy prices IPO at $22 per share, above target -source

Chewy Inc on Thursday priced its initial public offering at $22 per share, above its target, and sold more stock than originally planned, according to a person familiar with the matter, valuing the online pet products retailer at $8.77 billion.

By Joshua Franklin

NEW YORK, June 13 (Reuters) - Chewy Inc CHWY.N on Thursday priced its initial public offering at $22 per share, above its target, and sold more stock than originally planned, according to a person familiar with the matter, valuing the online pet products retailer at $8.77 billion.

Chewy, controlled by private equity-owned PetSmart Inc, had set a price range of $19 to $21 per share, which was raised earlier this week from $17 to $19 per share.

Some 46.5 million Chewy shares were sold in the IPO, up from the 41.6 million originally planned, the source said, requesting anonymity because the details are private. Chewy did not immediately respond to a request for comment.

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(Reporting by Joshua Franklin in New York; Editing by Lisa Shumaker)

((joshua.franklin@thomsonreuters.com; +1 646-223-6356; Reuters Messaging: joshua.franklin.thomsonreuters.com@reuters.net))

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

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