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Albertsons Supermarket IPO Aims To Raise $1.9 Billion

The second largest grocery store chain in the US, Albertsons, is preparing to launch its IPO on the New York Stock Exchange. As of this moment, Albertsons plans on offering 65.3 million shares between $23-26 per share. There is also an additional 9.8 million shares set aside just in case there is stronger demand than anticipated. All in all, Albertsons could raise roughly $1.9 billion if they were to sell all shares. This puts Albertsons’s valuation around $12 billion on the higher end. Additionally, Albertsons is said to trade under the ticker “ABS”.

Albertsons

Cerberus Capital Management hopes “new” Albertsons will be able to compete with other rival grocers

Cerberus Capital Management bought up Albertsons back in 2006, in an attempt to revive the struggling brand and propel the company back into the limelight. Cerberus upped the ante this year when the company purchased Albertsons rival, Safeway Inc. (NYSE:SWY) Inc. a>


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