Albertsons Companies, Inc. has priced its initial public offering of 50 million shares of its common stock at $16.00 per share. Certain selling stockholders of the company are offering these shares. These selling stockholders of the Albertsons, a well-known U.S. food and drug retailers, has also granted the underwriters a 30-day option purchase of totaling 7,500,000 number of shares from common stock of Albertsons.

Albertsons Companies will start trading of these shares on June 26, 2020 on the New York Stock Exchange (NYSE) with the symbol “ACI”. Prior to any change in date, the Offering will close on June 30, 2020 which is also dependent on the customary closing conditions

Certain selling stockholders will get the net proceeds from the sale of common stock. The company won’t receive these proceeds and the portion from any exercise by the underwriters of their option for the purpose of purchasing additional shares from the selling stockholders.

The firms acting as acting as lead joint book-running managers for the Offering include BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan and Citigroup. While Credit Suisse, Morgan Stanley, Wells Fargo Securities, Barclays and Deutsche Bank Securities will do job as other book-running managers.

The firms playing their role as co-managers for the Offering include BMO Capital Markets, Evercore ISI, RBC Capital Markets, Guggenheim Securities, Oppenheimer & Co., Telsey Advisory Group, Blaylock Van, LLC, Drexel Hamilton, MUFG, Academy Securities, Loop Capital Markets, Ramirez & Co., Inc., Stern and Tigress Financial Partners, and Penserra Securities LLC. Application of Offering is subject to means of a prospectus.

The company filed a registration statement relating to the shares with the SEC and which is effective as of June 25, 2020.

Albertsons has a significant presence both locally and at nationwide scale in U.S. It runs its stores in 34 different states.