Albertsons Companies Announces Launch of Initial Public Offering
BOISE, ID - Albertsons Companies is officially a public operation. This week, the grocery giant announced the commencement of its initial public offering (IPO), following a few years of teasing the possibility. But it is a possibility no more, with 65,800,000 shares of Albertsons common stock to be sold on the New York Stock Exchange.
According to a press release, the anticipated initial public offering price will be between $18 and $20 per share, pursuant to a registration statement previously filed with the U.S. Securities Exchange Commission. The stock will be listed under the ticker symbol “ACI.”
As early as 2015, Albertsons announced its plan to go public. This plan, however, wasn’t as easily initiated as expected with multiple acquisitions and other retail sector movements ultimately pivoting the company’s plan in order to wait for the right moment to emerge. Back in January, Albertsons revisited its IPO plans and, by March, the company was back on track, full steam ahead, with industry thought-leaders valuing the grocer at $19 billion.
How will Albertsons' official public debut bolster its grocery operations? AndNowUKnow will continue to report on the retail sector.