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Southeastern Grocers wants to join the public arena.
The company, which operates 420 supermarkets under the brand names Winn-Dixie, Bi-Lo, Fresco y Más and Harveys Supermarket, filed for an IPO about two years after it went bankrupt. Southeastern Grocers intends to list its shares on the New York Stock Exchange under the symbol “SEGR”.
The Florida-based supermarket operator said the number of shares on offer and the price range for the offer have not yet been determined. Its submission listed an offer size of $ 100 million, a placeholder that is likely to change.
Southeastern has shifted its focus since exiting bankruptcy in 2018. In June, the company announced plans to divest its South Carolina-based Bi-Lo chain.
“The company made a strategic decision to stop doing business under the BI-LO banner in order to facilitate major investments in growing the Fresco y Más, Harveys Supermarket and Winn-Dixie banners,” said Southeastern at the time.
As Southeastern continues to sell bi-lo stores, it is expanding its Winn-Dixie banner.
Albertsons launched Cos earlier this year. An IPO.
BofA Securities and Goldman Sachs & Co. LLC are acting as joint lead book running managers and underwriters’ representatives for the proposed Southestern offering. Deutsche Bank Securities Inc., BMO Capital Markets and Wells Fargo Securities, LLC are acting as book-running managers for the proposed offering. Truist Securities is acting as co-manager for the proposed offering.