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Supermarket chain Albertsons IPO Will Be Priced at $23-26 per share

Albertsons Cos Inc, the second largest grocery chain in the United States, expects its IPO to be priced between $23- $26 per share, giving the firm a valuation of up to $12.35 billion.

Cerberus Capital Management LP will continue with the IPO regardless of volatile stock markets, accentuating the private equity firm’s confidence that it will bring in a higher valuation for Albertsons.

Alberstsons plans to sell 65.3 million shares in the IPO and expects to raise $1.7 billion, according to a regulatory filing.

Cerberus acquired Safeway and merged it with Albertsons, creating a firm with over 2,200 stores. The deal closed in January of 2015.

Citigroup, Morgan Stanley, Goldman Sachs, Merrill Lynch and Pierce, Fenner & Smith are the underwriters for the IPO. The firm will be listed on the NYSE under the symbol “ABS”.