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Oct. 14, 2015, 6:17 p.m. EDT

Albertsons delays IPO; First Data prices below expectations

Shaky market conditions rattle through IPO market

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By Corrie Driebusch and Telis Demos

Albertsons Companies Inc. has delayed its initial public offering, according to people familiar with the plan.

The company is continuing to evaluate market conditions, and the deal could still be launched in the next day or so, the people said.

The supermarket operator had planned to sell about 65 million shares between $23 and $26 a share Wednesday after the market closed.

On Wednesday, shares of food retailers tumbled after Wal-Mart Stores Inc. /zigman2/quotes/207374728/composite WMT -0.42%  issued gloomy earnings guidance. Wal-Mart’s stock fell 10%, and the guidance dampened market sentiment for grocery retailers broadly. Grocer Kroger Co. saw its share price shed 3%, one of the biggest single-day drops in two years. Albertsons  delayed its IPO in part because of Wal-Mart’s woes, a person familiar with the offering said.

Also late Wednesday, First Data Corp.  priced its IPO below expectations at $16 a share, according to people familiar with the offering. The deal raised $2.56 billion by selling 160 million shares, they said. The payment-processing company had planned to sell 160 million shares between $18 and $20.

An expanded version of this report is available at WSJ.com .

/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 136.67
-0.58 -0.42%
Volume: 1.92M
Sept. 29, 2020 11:01a
P/E Ratio
21.82
Dividend Yield
1.58%
Market Cap
$388.93 billion
Rev. per Employee
$223,654
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