March 18 Blackhawk Network Holdings Inc, grocer
Safeway Inc's gift card and payment service unit, filed
with regulators to raise as much as $200 million in an initial
public offering of its Class A common stock.
Safeway, one of the largest U.S. supermarket chains, had
revealed in September plans to take the Blackhawk unit public in
the first half of 2013.
Blackhawk listed Goldman Sachs & Co, BofA Merrill Lynch,
Citigroup and Deutsche Bank Securities as lead underwriters for
The company reported adjusted net income of $50.3 million on
revenue of $949 million in 2012.
The filing did not reveal how many shares the company
planned to sell or their expected price. However, it showed that
all shares in the offering will be sold by existing
shareholders, including Safeway.
The company intends to list its common stock on the Nasdaq
under the symbol "HAWK."
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.