Albertson’s IPO On Hold
Albertsons has postponed it’s initial public offering after Wal-Mart lowered its sales projections for next quarter, prompting worries about a down turn in the retail sector.
Albertsons was set to become the second-biggest IPO of the year, selling stock on the New York Stock Exchange under the symbol ABS.
The Boise based grocery stores is owned by a New York private equity firm Cerberus Capital Management and several partners. They were expected to raise nearly two billion dollars by selling 65 million shares at around $26 each.