The IPO of supermarket operator Albertsons is priced at $16 a share, below the expected range. Albertsons, which owns Albertsons, Safeway, Acme and Shaw’s supermarkets in dozens of states, plans to raise up to $1.32 billion when it goes public this … CNBC's Jim Cramer on Wednesday said that Albertsons, the U.S. grocery operator making its third IPO attempt, is worth owning if investors can get the stock at the right price. Albertsons Companies Inc. priced its initial public offering at $16 a share Thursday afternoon, lower than the price range it was seeking. The IPO was originally expected to price at $19.00 per share. The IPO will generate up to $1.3 billion through the issuance of 65.8 million shares of Class A common stock. Costco fell 1.3%. Albertsons Cos. plans to offer the public stock in the Boise grocery chain for between $18 and $20 per share, according to a filing Thursday. Dow, S&P 500 Close 2020 At Fresh Record Highs, Fusion Pharmaceuticals will also price its initial offering, Dow Jones Stocks To Buy And Watch In December 2020: Apple Eyes New Buy Point, Is PayPal Stock A Buy Right Now? The company will trade on the New York Stock Exchange under the symbol ACI – for Albertsons Companies Inc. [Q&A with Albertsons: Worker safety, hiring furloughed workers, COVID precautions and more]. Cerberus is selling roughly 28 million shares in the IPO… Yesterday (July 6, 2020), the stock closed at $15.52. 1 year ago. 2. The private equity firm and its allies purchased a small number of Albertsons stores in 2006. Catch big breakout stocks with the Blue Dot, only in MarketSmith. Founded in 1939, the supermarket operator is held by a private equity group led by Cerberus Capital. A proposed merger with Rite-Aid in 2018 also failed after shareholder opposition. Join IBD experts as they analyze actionable stocks in the coronavirus stock market rally on IBD Live. Additionally, you have a potential discounted opportunity. The Walmart (NYSE:WMT) stock price has risen 28% so far in 2019, reaching a new all-time high. A coalition of owners led by Cerberus Capital Management currently controls Albertsons. Ownership data provided by Refinitiv and Estimates data provided by FactSet. Realtime quote and/or trade prices are not sourced from all markets. The company will launch its initial public offering, bringing the company back to Wall Street for the first time in nearly 15 years. Apollo’s investment and the IPO Albertsons maintains its primary headquarters in Boise, and employs hundreds of workers in finance, administration, marketing and other roles. In 2015, Cerberus struck a 2015 merger with Safeway to create the second-largest grocery chain by revenue after Kroger. The company first publicly indicated it would launch the IPO in March, just a few weeks before the COVID-19 pandemic began impacting the US. Find Aparna Narayanan on Twitter at @IBD_ANarayanan. Risk of Investing in Initial Public Offerings ("IPOs") There are specific risks in investing in an Initial Public Offering ("IPO"). Albertsons Prices IPO Below Expectations in Downsized Deal Second-largest U.S. grocer sold 50 million shares at $16 apiece Albertsons priced its IPO … The IPO will generate … The Boise-based company said it would sell 65.8 million shares of stock, with a price target of between $18 and $20. A date for the IPO is still not yet set – though Albertsons filed an updated prospectus with the SEC today that outlines the pricing terms of the offering. 2. The company will launch its initial public offering, bringing the company back to Wall Street for the first time in nearly fifteen years. The grocery retailer will not receive any proceeds from the IPO. 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