BJ’s Expects IPO Price of $15 to $17 a Share

BJ’s Wholesale Club anticipates that its initial public offering will be priced between $15 and $17 per share, which would give the Westborough, Mass.-based warehouse club operator a market capitalization of as much as $2.15 billion, according to a published report.

At the high end of the range, the offering of 37.5 million shares would raise $637.5 million, noted Reuters.

BJ’s, which was taken private in 2011 for $2.8 billion, filed with the Security & Exchange Commission to go public for the second time last month. 

In its filing, the company listed among its competitive strengths a differentiated shopping experience, well-positioned footprint and flexible new-club model, large and loyal membership base, and experienced management team with a proven track record, led by Chairman, President and CEO Christopher J. Baldwin, who took the helm in 2016.  

According to analysts, BJ’s debut in a competitive market was “sensible,” given that investors’ confidence in the retail sector had grown.

The retailer’s symbol on the New York Stock Exchange will be “BJ.”