Albertsons Plans to Sell Up to $1.84 Billion of Shares in IPO

Albertsons Cos., a U.S. supermarket chain with more than 2,000 stores, said it plans to raise as much as $1.84 billion in an initial public offering to reduce debt.

The company will trade on the New York Stock Exchange under the ticker ABS and plans to use proceeds to repay an $850 million loan, it said in a regulatory filing Friday. The filing comes after its private-equity owner, Cerberus Capital Management, completed a $9 billion acquisition of Safeway Inc. to create the second-largest grocery-store chain in the U.S. behind Kroger Co., according to PrivCo Media.

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