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Acme owner's IPO raises $800 million; At $16 a share - a cut from the initial proposal - Albertsons brought in less than expected.

Jun 27, 2020 - Philadelphia Inquirer

ABSTRACT

At $16 a share - a cut from the initial proposal - Albertsons brought in less than expected.

It was hardly an auspicious launch. Even so, it made a lot of money for a group of investors who had waded into the treacherous supermarket sector.

On Thursday, the initial public offering of the company that owns Acme Markets and a string of other food chains sold out at $16 a share - $2 to $4 under the investors' target. On Friday, the stock's price fell another 49 cen...