(Reuters) - U.S. grocery retailer Albertsons Cos Inc filed paperwork for an initial public offering on Friday, years after poor market conditions derailed its earlier attempt at going public.
Albertsons’ IPO could value the company around $19 billion, the Wall Street Journal reported in January. The company did not indicate the size of the offering or the price range at which it would market it.
The company, which owns U.S. supermarket chain Safeway, launched an IPO in 2015, but shelved it as market volatility slammed stocks of grocery retailers. (reut.rs/3cFNwIj)
The Boise, Idaho-based retailer recorded $59.71 billion in annual retail sales in 2018, a figure bettered only by nine other companies, according to a list compiled by market research firm Kantar on the National Retail Federation’s website.
Albertsons is backed by Cerberus Capital Management LP, a buyout firm controlled by billionaire Stephen Feinberg. The listing would pave the road for Cerberus to exit the company.
The grocery retailer is not selling any shares in the offering and will not receive any proceeds. Albertsons said it would list its shares on the New York Stock Exchange under the symbol “ACI”.
BofA Securities, Goldman Sachs, J.P. Morgan and Citigroup are the lead underwriters to the offering.
Reporting by Bharath Manjesh and Praveen Paramasivam in Bengaluru; Editing by Krishna Chandra Eluri