Fairway Market Sets IPO Price Range

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Fairway Market Sets IPO Price Range

04/04/2013

Fairway Market has priced its initial public offering (IPO) of 13.7 million Class A shares at $10 to $12 per share, with the goal of raising as much as $164 million, according to a published report.

The New York metropolitan-area grocer, which is majority-owned by private equity firm Sterling Investment Partners, revealed last year that it had confidentially filed for an IPO.

At the high end of the price range, the grocer would be worth about $495 million, Reuters reported. Fairway is offering 13.3 million shares, with its selling shareholders offering the remainder.

The company has informed the U.S. Securities and Exchange Commission that Credit Suisse, BofA Merrill Lynch, Jefferies and William Blair will underwrite the IPO.

Last year, Whole Foods Market Inc. and The Fresh Market Inc. both successfully went public.