BJ’s Wholesale Club is preparing for its Initial Public Offering (IPO).
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Here’s what we currently know about the BJ’s Wholesale Club IPO.
- The company is expecting to price its shares between $15 and $17 for its IPO.
- It will be offering a total of 37.5 million shares in its IPO.
- This could see the company raising as much as $637.5 million in its IPO.
- The IPO also allows initial underwriters the option to purchase 5.6 million for up to 30 days.
- The IPO would give the company a market cap of $2.15 billion.
- BJ’s Wholesale Club is planning to list its stock on the New York Stock Exchange under the ticker “BJ”.
- BofA Merrill Lynch, Deutsche Bank, Goldman Sachs and JPMorgan are the lead managers of the IPO.
- There are also another 10 banks serving as co-managers for the deal.
- This will actually be the second time that the company has listed itself on the public market.
- It’s previous run as a public company came to an end in 2011.
- This was the result of a $2.8 billion deal to take the retail company private.
- The return to the public arena will once again have the company’s stock competing against rival retail chain Costco Wholesale Corporation (NASDAQ:COST).
- BJ’s Wholesale Club’s decision to hold an IPO comes as its net income growth increased 109% in the last three quarters.
- Same-store sales in this period have also been up, as has adjusted EBITDA.
You can follow these links to learn more about the BJ’s Wholesale Club IPO.
As of this writing, William White did not hold a position in any of the aforementioned securities.
