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Albertsons Releases New Filings as it Approaches IPO

Albertsons Releases New Filings as it Approaches IPO

BOISE, ID – As the retailer moves closer towards going public, Albertsons Companies has filed an amended S-1 form with the U.S. Securities and Exchange Commission. In addition to updating its finances to help secure its initial public offering (IPO), Albertsons proposed to list its shares on the New York Stock Exchange under the symbol ABS.

“For fiscal 2015, we generated net sales of $58.7 billion, Adjusted EBITDA of $2.7 billion and free cash flow, which we define as Adjusted EBITDA less capital expenditures, of $1.7 billion,” the company said in a recent statement about its finances. “In addition to realizing increased sales, profitability, and free cash flow through the implementation of our operating playbook, we expect synergies from the Safeway acquisition to enhance our profitability and free cash flow over the next few years.”

Photo Credit: Ken Wolter, Shutterstock.com

Albertsons stated that the prices for its 65.31 million shares are expected to be in the range of $23 to $26, which if taken at the maximum price, would make the entire offering valued at roughly $1.953 billion. For an additional 9.796 million shares, the company said that it would have an overallotment option. 

The net proceeds from Albertsons’ IPO will be used towards fees and expenses that are related to the offering, to repay certain debt, and for general corporate offerings. 

The underwrites for Albertsons upcoming IPO are as follows:

  • Goldman Sachs
  • Merrill Lynch
  • Citigroup
  • Morgan Stanley
  • Deutsche Bank
  • Credit Suisse
  • Barclays
  • Lazard
  • Guggenheim Securities
  • Jefferies
  • RBC Capital Markets
  • Wells Fargo
  • BMO Capital Markets
  • SunTrust Robinson Humphrey
  • Telsey Advisory Group
  • Academy Securities
  • Ramirez
  • Blaylock Beal Van

As Albertsons continues to take steps towards finalizing its IPO, stay in sync with AndNowUKnow as we report on the company’s announcements and its affect on the chain.