UPDATE (10/15/2015, 2:30pm PST): Albertsons said Thursday afternoon that it intends to initiate its IPO before the Thanksgiving holiday at approximately $20 per share. The company also noted that it is considering releasing updated financials to improve investor comfort, according to CNBC.

BOISE, ID – Albertsons is looking to postpone its initial public offering “indefinitely,” citing unfavorable market conditions just a day after Wal-Mart’s disappointing fiscal 2016 outlook made waves on Wall Street.

In its most recent filing, Albertsons said that it expected to raise $1.82 billion through its proposed IPO, approximately $23 to $26 per share. A person familiar with the matter said that there was no definite timetable set for a re-evaluated pricing, though it’s unlikely there would be an announcement in the short term, according to Reuters.

Do note, however, that this is not a complete withdrawal of Albertsons’ public offering. Analysts indicate that the grocery retailer intends to go back to the drawing board and re-evaluate the deal.

The delayed public offering also comes at a time when institutional investors had reportedly resisted the deal, instead favoring a price point hovering closer to $17. The person familiar with the matter said that if the IPO were to be priced on Thursday evening, the best underwriters could expect is a share price of $18, according to CNBC.

As of June 20, 2015, the company operates 2,205 stores across 33 states under 18 banners. Albertsons operates 30 distribution centers and 21 manufacturing facilities. 

Earnings from the IPO would be used to pay down debt, which, as we previously reported, were approximately $12 billion.

Once Albertsons kicks off its IPO, the company will begin trading under the New York Stock Exchange under the ticker symbol ABS.

Stay tuned to AndNowUKnow as we continue our coverage of Albertsons’ IPO.

Albertsons