Albertson’s is revealing more details about its initial public offering (IPO) as it prepares to launch it.
Here’s what potential investors need to know about the Albertson’s IPO.
- The IPO will include 68.5 million shares of stock.
- There’s also an option for underwriters to purchase an additional 9.87 million shares.
- The company is expecting the shares to be priced between $18 and $20 per share.
- That would have the IPO generating between $1.23 billion and $1.57 billion.
- However, it’s worth noting that Albertson’s won’t receive any of the proceeds from the IPO.
- That’s because the shares are being sold by investors in the company.
- The lead joint book-running managers of the IPO are BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan and Citigroup.
- Credit Suisse, Morgan Stanley, Wells Fargo Securities, Barclays and Deutsche Bank Securities are serving as book-running managers.
- Co-managers of the IPO include BMO Capital Markets, Evercore ISI, Guggenheim Securities, Oppenheimer & Co., RBC Capital Markets, Telsey Advisory Group, MUFG, Academy Securities, Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, Penserra Securities LLC, Ramirez & Co., Inc., Stern and Tigress Financial Partners.
- Albertson’s originally announced its intention to go public back in March.
- The exact date of the IPO is still unknown, but some sources expect it to take place late next week.
- This will reportedly have the company trading its stock on the New York Stock Exchange using the “ACI” ticker.
- The current IPO plans could value the company as high as $11.6 billion.
As of this writing, William White did not hold a position in any of the aforementioned securities.