Southeastern Grocers Inc. late on Jan. 28 announced it is postponing its planned initial public offering, a day before the deal was expected to be priced.
The Jacksonville-based supermarket operator did not give a reason for the postponement, according to WJCT News partner the Jacksonville Daily Record.
“The company will continue to evaluate the timing for the proposed offering as market conditions develop,” Southeastern Grocers said in a news release.
Before the company’s announcement, Reuters news service reported it was pulling the IPO because investors were not willing to meet its targeted price range, citing an unnamed source.
Southeastern Grocers said in an updated filing last week with the Securities and Exchange Commission it wanted to sell 8.9 million shares at $14 to $16.
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