Albertson’s initial public offering IPO is getting closer as retail the company prepares for its third attempt to go public.
Here’s what potential investors need to know about the Albertson’s IPO.
- The company is planning to price its shares between $18 and $20 each.
- It will be offering up 68.5 million shares of stock in the IPO.
- Underwriters of the IPO will also have the option of purchasing an additional 9.87 million shares.
- That means the IPO could raise between $1.23 billion and $1.57 billion.
- What’s worth noting is that Albertson’s won’t directly benefit from the IPO.
- That’s because the shares being offered come from investors in the company.
- BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan and Citigroup are serving as the lead joint book-running managers for the process.
- If reports are true, Albertson’s expects to hold its IPO sometime this week.
- This would have it offering up shares of ACI stock on the New York Stock Exchange.
“This Albertsons deal may be better than you’d expect, but I think the best part of the IPO cycle may have already come and gone, along maybe with a lot of this market and so I’m telling you exercise with caution.”
Cramer has a mostly neutral stance on Albertson’s. He says the stock could be worth picking up, but only if investors can grab it between $24 and $25 per share.
As of this writing, William White did not hold a position in any of the aforementioned securities.