Albertsons is the second-largest grocery retailer in the U.S.
BOISE, IDAHO – Albertsons Companies Inc. expects to raise $1.531 billion from its initial public offering, the company said in a filing with the Securities and Exchange Commission.
The amount raised assumes a price of $24.50 per share, which places Albertsons’ value at nearly $12 billion. The company plans to use the proceeds from the i.p.o. to repay amounts outstanding under the company’s $850 million term loan.
The company’s shares will be traded at the New York Stock Exchange under the ticker symbol “ABS.”
Albertsons is the second-largest grocery retailer in the United States behind Kroger Co. The chain includes Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market and Carrs. Albertsons is owned by private equity firm Cerberus Capital Management LP.
