Deals

Grocery Outlet Jumps in Debut After Raising $378 Million

Grocery Outlet Plans to Pay Off Debt and Grow Stores With IPO Funding, CEO Says

June 20, 2019 at 12:23 AM UTC

Updated on

June 20, 2019 at 8:52 PM UTC

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Grocery Outlet Holding Corp. rose in its trading debut after raising $378 million in an above-range initial public offering.

The discount supermarket chain’s shares, which rose as much as 43% Thursday, closed up 30% to $28.51, valuing the company at $2.44 billion.