June 18, 2018 / 11:29 AM / 5 months ago

BJ's Wholesale sees IPO at $15-$17/share

(Reuters) - BJ’s Wholesale Club Holdings Inc expects its initial public offering to be priced between $15 and $17 per share, giving the warehouse club operator a market capitalization of up to $2.15 billion.

At the top end of that range, the offering of 37.5 million shares would raise $637.5 million.

The company, which was taken private in 2011 for $2.8 billion, filed with regulators to go public for the second time last month.

It owns 215 warehouse clubs, mainly on the U.S. east coast, and competes with Costco Wholesale Corp (COST.O) and Walmart Inc’s (WMT.N) Sam’s Club.

Analysts had said that BJ’s debut in a competitive market was “sensible” as investors’ confidence in the retail sector had risen.

The company will list on the New York Stock Exchange under the symbol “BJ”.

Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel

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