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Food for thought: Albertsons Companies sets terms for $1.6 billion IPO

October 2, 2015
ABS

Albertsons Companies, the second-largest grocer in the US operating Safeway and other brand chains, announced terms for its IPO on Friday.

The Boise, ID-based company plans to raise $1.6 billion by offering 65.3 million shares at a price range of $23 to $26. At the midpoint of the proposed range, Albertsons Companies would command a fully diluted market value of $11.9 billion. 

Albertsons Companies, which was founded in 1926 and booked $57.9 billion in sales for the 12 months ended June 30, 2015, plans to list on the NYSE under the symbol ABS. Goldman Sachs, BofA Merrill Lynch, Citi and Morgan Stanley are the joint bookrunners on the deal.