Albertsons Cos., the second-largest supermarket operator following its recent $9 billion merger with Safeway early this year, filed for an initial public offering on Wednesday.
The offering is listed to raise approximately $100 million, though the number of shares set to hit the trading floor has not yet been disclosed. Albertsons said it plans to use the IPO monies to pay down debt and fund other corporate initiatives. It also has plans to open new stores and upgrade others, including related recent news that it will open eight new and replacement stores in 2015 and remodel a total of 115 existing stores across most of its operating divisions.
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