April 8 Blackhawk Network Holdings Inc, grocer
Safeway Inc's gift card and payment service unit, is
offering 10 million Class A shares at $20 to $22 per share.
At the top end of the expected price range, the company will
raise up to $220 million in proceeds.
Safeway, the second-largest U.S. grocery store operator,
said in September that it plans to take the Blackhawk unit
public in the first half of 2013.
Blackhawk said the IPO will consist solely of shares to be
offered by existing stockholders.
Blackhawk sells prepaid gift, debit and telephone cards
through thousands of retail outlets, including supermarkets,
pharmacies and convenience stores. It also runs the payment and
gift card infrastructure for Safeway and other retailers.
Blackhawk listed Goldman Sachs & Co, BofA Merrill Lynch,
Citigroup and Deutsche Bank Securities as lead underwriters for
The company, founded in 2001 as a division of Safeway,
reported adjusted net income of $50.3 million on revenue of $949
million in 2012.
Blackhawk intends to list its common stock on the Nasdaq
under the symbol "HAWK.