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Southeastern Grocers Pulls Recently Launched IPO

Southeastern Grocers Pulls Recently Launched IPO

Monday, February 1st, 2021

In the ebb and flow of the retail market, big moves can be made quickly. That is the case as Southeastern Grocers has announced that it will be canceling its initial public offering for the second time. This news comes just a week after its original announcement in which it launched its IPO.

“The company will continue to evaluate the timing for the proposed offering as market conditions develop,” Southeastern Grocers said in a company statement, according to Reuters.

After officially launching its initial public offering (IPO), Southeastern Grocers has announced it would be canceling the offer

The news source noted that Southeastern Grocers has not stated an explicit reason for canceling its IPO so quickly. An individual close to the situation told Reuters that a lack of demand for the grocers’ targeted price range may have contributed.

Southeastern Grocers reportedly made a similar decision back in 2014 when it pulled its first IPO.

As more details come to light in regards to the decision and its impact on the market, Deli Market News will continue to keep you in the know.

Southeastern Grocers