BJ's Wholesale Rises in Trading Debut in $637.5 Million U.S. IPO
(Bloomberg) -- BJ’s Wholesale Club Holdings Inc. rose as much as 35 percent in early trading after raising $637.5 million in its initial public offering.
Shares in the grocery and consumer goods membership club opened at $21.25 per share in New York, valuing the Westborough, Massachusetts-based company at about $2.7 billion.
That was well above the marketed range of $15 to $17. BJ’s sold 37.5 million shares at $17 apiece on Wednesday.
BJ’s is one of a dozen companies pricing U.S. IPOs this week, the busiest for debut offerings in three years, according to data compiled by Bloomberg. Uxin Ltd., a Chinese online used car selling platform, raised $225 million in an offering on Tuesday while building maintenance services provider BrightView Holdings Inc. raised almost $469 million in an offering that priced Wednesday.
BJ’s listed on the New York Stock Exchange under the symbol BJ.
©2018 Bloomberg L.P.