After over five years of strategizing its initial public offering (IPO) plan, Albertsons is officially a public operation. Last week, the grocery retailer announced the commencement of its IPO, with 65,800,000 shares of Albertsons common stock to be sold on the New York Stock Exchange under the ticker symbol "ACI."
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.
Back in 2015, Albertsons began its foray as a public company. However, its IPO plan wasn’t as easily implemented as expected with multiple acquisitions and other retail sector movements ultimately leading Albertsons to wait for a more opportune time. This opportune time emerged in January and, by March, Albertsons was back on track. In the last couple of months since its decision to officially launch its IPO, industry thought-leaders have valued the grocer at $19 billion.
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