Southeastern Grocers, whose supermarket banners include Winn-Dixie and Harveys, has postponed its latest IPO.
Southeastern Grocers Inc. has postponed its initial public stock offering a week after providing a price range of $14-$16 for 8.9 million shares. While providing no specific reason for the delay, the grocer said that it would “continue to evaluate the timing for the proposed offering as market conditions develop.”
The company had filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed sale of its common stock, but the statement had not yet become effective.
Southeastern Grocers said last September it was exploring an IPO through an SEC filing that it said at the time would “help enable [it] to make the decision to become publicly traded, subject to market and other conditions.”
Southeastern Grocers postpones IPO
Just after announcing plans for its initial public offering, Southeastern Grocers is putting a temporary stop to the whole thing.
The Jacksonville, Fla.-based retailer announced that for now the process will be postponed and it will continue to evaluate the timing for the offering as market conditions develop.
Southeastern Grocers has also filed a registration statement relating to the proposed scale of these securities that has been filed with the United States Securities and Exchange Commission but is not yet effective.
Currently, the securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective, the company said.
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