BJ’s Sets IPO At $17 Per Share

BJ’s Wholesale Club has set its initial public offering of $17 per share as the wholesale club will offer 37.5 million shares.

Trading of the retailer’s stock began June 28 on the New York Stock Exchange under the symbol “BJ.”  BJ’s has granted the underwriters a 30-day option to purchase up to an additional 5.625 million shares of common stock.

BofA Merrill Lynch, Deutsche Bank Securities, Goldman Sachs & Co. LLC, and J.P. Morgan are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Morgan Stanley, Citigroup, Jefferies and Wells Fargo Securities are also serving as book-running managers for the proposed offering.

In 2011, BJ’s was taken private by private equity firms Leonard Green & Partners LP and CVC Capital in a deal valued at $2.8 billion.