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06/18/2018

BJ’s readies for IPO

BJ's Wholesale Club is has set the terms for its upcoming initial public offerings.

The warehouse-club retailer said in a regulatory filing that it plans to offer 37.5 million shares in a range of $15 to $17 a share, giving the company a market capitalization of up to $2.15 billion.

In 2011, BJ’s was acquired and taken private by CVC and Leonard Green & Partners in a $2.8 billion deal. The company announced in May it had filed for a U.S. initial public offering.

Based in Westborough, Massachusetts, BJ’s has 215 locations in 16 states. The company generated net income of $50 million on total sales of $12.8 billion in fiscal 2017.

The retailer plans to list on the New York Stock Exchange under the ticker symbol "BJ.”